Research on pricing mechanism of agent construction for government investment projects based on risk allocation

摘要

The Agent Construction System (ACS) for government investment project is a primary solution for investment system reformation in China. However, the implementation of ACS has encountered some incentive problems, and the agent construction service pricing mechanism is one of the most important incentive problems. By formulating a primary pricing model be comprised of basic price and incentive price, the article discussed the influence of risk allocation on the incentive ratio and parameters in the project residual. It shows that the incentive ratio in the pricing model and the project residual are both determinate by the risk allocation between the principal and the agency. Based on the analysis above, the article has presented a series of pricing model for the government principal in accordance with different risk allocation arrangements.