System dynamics approaches to public–private partnerships: A literature review

Abstract

AbstractIncreased complexity has been recognized as a dominant characteristic of public–private partnerships (PPPs). In this article, we review system dynamics (SD) approaches to the PPP field because SD modelling can support the policymaking process in systems with increased structural and functional complexity. Although papers published in journals and conferences have documented SD approaches to PPP problems, there appears to be a lack of systematically reviewing what they have already provided. The objectives are to compare the findings of the studies to provide insights for directing further PPP research with the use of SD. To achieve the review objectives, we categorize the papers by the problem topic raised and provide a summary of particular insights. Problem topics include construction risk assessment, risk allocation, project financing, performance of infrastructure, demand forecast, procurement strategies, and strategic policy at national levels. The paper concludes with recommendations for future SD applications.