[1] Singh, A., Shrivastava, P., & Kambekar, A. R. (2019). Financial Risk Assessment of Public Private Partnership Project. Sustainable Infrastructure Development & Management (SIDM), 20109. doi:10.2139/ssrn.3369415
[2] Makkiabadi, S. R., Behnia, K., Akbari, A. (2014). Identification and Assessment of Critical Risks in High Speed Rail Projects Via Public Private Partnership in Developing Countries. Journal of Structural and Construction Engineering, 1(1), 5-18.
[3] Mirmoezzi, S.M.M, Sobhiyah, M. H. (2019). Identifying and Explaining the Effecting Factors in Environmental Complexity of Public Private Partnership Projects Case Study: Freeway Partnership Contracts of Iran. Journal of Structural and Construction Engineering. doi: 10.22065/jsce.2019.183385.1847
[4] De Marco, A., & Mangano, G. (2017). Risk factors influencing the debt leverage of project financing initiatives in the energy industry. International Journal of Energy Sector Management, 11(3), 444-462. doi:10.1108/ijesm-02-2017-0006
[5] Jeerangsuwan, T., Said, H., Kandil, A., & Ukkusuri, S. (2013). Financial evaluation for toll road projects considering traffic volume and serviceability interactions. Journal of Infrastructure Systems, 20(3), 04014012. doi:10.1061/(asce)is.1943-555x.0000175
[6] Rouhani, O. M., Geddes, R. R., Do, W., Gao, H. O., & Beheshtian, A. (2018). Revenue-risk-sharing approaches for public-private partnership provision of highway facilities. Case Studies on Transport Policy, 6(4), 439-448. doi:10.1016/j.cstp.2018.04.003
[7] Jiang, Y. (2017). Selection of PPP Projects in China Based on Government Guarantees and Fiscal Risk Control. International journal of financial research, 8(1), 99-111. doi:10.5430/ijfr.v8n1p99
[8] Carpintero, S., Vassallo, J. M., & Soliño, A. S. (2013). Dealing with traffic risk in Latin American toll roads. Journal of Management in Engineering, 31(2), 05014016. doi:10.1061/(asce)me.1943-5479.0000266
[10] Wang, Y., Cui, P., & Liu, J. (2018). Analysis of the risk-sharing ratio in PPP projects based on government minimum revenue guarantees. International Journal of Project Management, 36(6), 899-909. doi:10.1016/j.ijproman.2018.01.007
[11] Zapata Quimbayo, C. A., Mejía Vega, C. A., & Marques, N. L. (2019). Minimum revenue guarantees valuation in PPP projects under a mean reverting process. Construction Management and Economics, 37(3), 121-138. doi:10.1080/01446193.2018.1500024
[12] Carbonara, N., & Pellegrino, R. (2018). Revenue guarantee in public–private partnerships: a win–win model. Construction management and economics, 36(10), 584-598. doi:10.1080/01446193.2018.1467028
[13] Buyukyoran, F., & Gundes, S. (2018). Optimized real options-based approach for government guarantees in PPP toll road projects. Construction management and economics, 36(4), 203-216. doi:10.1080/01446193.2017.1347267
[14] Chen, Q., Shen, G., Xue, F., & Xia, B. (2017). Real options model of toll-adjustment mechanism in concession contracts of toll road projects. Journal of Management in Engineering, 34(1), 04017040. doi:10.1061/(asce)me.1943-5479.0000558
[15] Power, G. J., Burris, M., Vadali, S., & Vedenov, D. (2016). Valuation of strategic options in public–private partnerships. Transportation research part A: policy and practice, 90, 50-68. doi:10.1016/j.tra.2016.05.015
[16] Garvin, M. J., & Ford, D. N. (2012). Real options in infrastructure projects: theory, practice and prospects. Engineering Project Organization Journal, 2(1-2), 97-108. doi:10.1080/21573727.2011.632096
[17] Broadie, M., & Detemple, J. B. (2004). Anniversary article: Option pricing: Valuation models and applications. Management science, 50(9), 1145-1177. doi:10.1287/mnsc.1040.0275
[18] Nguyen, A., Mollik, A., & Chih, Y. Y. (2018). Managing Critical Risks Affecting the Financial Viability of Public–Private Partnership Projects: Case Study of Toll Road Projects in Vietnam. Journal of Construction Engineering and Management, 144(12), 05018014. doi:10.1061/(asce)co.1943-7862.0001571
[19] Farquharson, E., Torres de Mästle, C., & Yescombe, E. R. (2011). How to engage with the private sector in public-private partnerships in emerging markets. Washington DC: The World Bank, 66-67. doi: 10.1596/978-0-8213-7863-2
[20] Galera, A. L. L., & Soliño, A. S. (2010). A real options approach for the valuation of highway concessions. Transportation Science, 44(3), 416-427. doi:10.1287/trsc.1090.0299
[21] Liu, T., Bennon, M., Garvin, M. J., & Wang, S. (2017). Sharing the big risk: assessment framework for revenue risk sharing mechanisms in transportation public-private partnerships. Journal of Construction Engineering and Management, 143(12), 04017086. doi:10.1061/(asce)co.1943-7862.0001397
[22] Hawas, F., & Cifuentes, A. (2017). Valuation of projects with minimum revenue guarantees: A Gaussian copula–based simulation approach. The engineering economist, 62(1), 90-102. doi: 10.1080/0013791x.2016.1153178
[23] Chiara, N., & Kokkaew, N. (2013). Alternative to government revenue guarantees: Dynamic revenue insurance contracts. Journal of infrastructure systems, 19(3), 287-296. doi:10.1061/(asce)is.1943-555x.0000145
[24] Feng, Z., Zhang, S. B., & Gao, Y. (2015). Modeling the impact of government guarantees on toll charge, road quality and capacity for Build-Operate-Transfer (BOT) road projects. Transportation research part A: policy and practice, 78, 54-67. doi:10.1016/j.tra.2015.05.006
[25] Carbonara, N., Costantino, N., Gunnigan, L., & Pellegrino, R. (2015). Risk management in motorway PPP projects: empirical-based guidelines. Transport reviews, 35(2), 162-182. doi:10.1080/01441647.2015.1012696
[26] Iyer, K. C., & Sagheer, M. (2011). A real options based traffic risk mitigation model for build-operate-transfer highway projects in India. Construction management and economics, 29(8), 771-779. doi:10.1080/01446193.2011.597412
[27] Brandão, L. E., Bastian-Pinto, C., Gomes, L. L., & Labes, M. (2012). Government supports in public–private partnership contracts: Metro Line 4 of the Sao Paulo Subway System. Journal of Infrastructure Systems, 18(3), 218-225. doi:10.1061/(asce)is.1943-555x.0000095
[28] Wang, Y. (2015). Evolution of public–private partnership models in American toll road development: Learning based on public institutions' risk management. International Journal of Project Management, 33(3), 684-696. doi:10.1016/j.ijproman.2014.10.006
[29] Mirzadeh, I., & Birgisson, B. (2015). Evaluation of highway projects under government support mechanisms based on an option-pricing framework. Journal of construction engineering and management, 142(4), 04015094. doi:10.1061/(asce)co.1943-7862.0001079
[30] Hatefi, S. M., Heidari, A. (2019). Evaluating construction projects based on the risk factors by using an integrated fuzzy AHP and fuzzy VIKOR model [Special issue]. Journal of Structural and Construction Engineering, 5(4), 156-175. doi: 10.22065/jsce.2017.89816.1238
[31] De Marco, A., & Mangano, G. (2012). Risk and value in privately financed health care projects. Journal of Construction Engineering and Management, 139(8), 918-926. doi:10.1061/(asce)co.1943-7862.0000660
[32] Pellegrino, R., Vajdic, N., & Carbonara, N. (2013). Real option theory for risk mitigation in transport PPPs. Built environment project and asset management. doi: 10.1108/BEPAM-05-2012-0027
[33] Nguyen, D. A., Garvin, M. J., Ford, D. N., Kumar, R., & Taylor, J. E. (2017). Improving Public-Private Partnership Contracts through Risk Characterization, Contract Mechanisms, and Flexibility. Doctoral dissertation. Blacksburg: Virginia Tech.
[34] Kokkaew, N., & Chiara, N. (2013). A modeling government revenue guarantees in privately built transportation projects: a risk-adjusted approach. Transport, 28(2), 186-192. doi:10.3846/16484142.2013.803262
[35] Ma, G., Du, Q., & Wang, K. (2018). A concession period and price determination model for PPP projects: Based on real options and risk allocation. Sustainability, 10(3), 706.
[36] Carbonara, N., Costantino, N., & Pellegrino, R. (2014). Concession period for PPPs: A win–win model for a fair risk sharing. International Journal of Project Management, 32(7), 1223-1232. doi:10.1016/j.ijproman.2014.01.007
[37] Shan, L., Garvin, M. J., & Kumar, R. (2010). Collar options to manage revenue risks in real toll public‐private partnership transportation projects. Construction management and economics, 28(10), 1057-1069. doi:10.1080/01446193.2010.506645
[38] Chiara, N., Garvin, M. J., & Vecer, J. (2007). Valuing Simple Multiple-Exercise Real Options in Infrastructure Projects. Journal of Infrastructure Systems, 13(2), 97–104. doi:10.1061/(asce)1076-0342(2007)13:2(97)
[39] Zhang, X. (2009). Win–win concession period determination methodology. Journal of Construction Engineering and Management, 135(6), 550–558. doi:10.1061/(asce)co.1943-7862.0000012
[40] Hong, Y., Lee, S., & Li, T. (2015). Numerical method of pricing discretely monitored Barrier option. Journal of Computational and Applied Mathematics, 278, 149-161. doi:10.1016/j.cam.2014.08.022
[41] Zhang, X. (2005). Financial viability analysis and capital structure optimization in privatized public infrastructure projects. Journal of Construction Engineering and Management, 131(6), 656-668. doi:10.1061/(asce)0733-9364(2005)131:6(656)
[42] Mun, J. (2002). Real options analysis: Tools and techniques for valuing strategic investments and decisions. Hoboken, New Jerey: John Wiley & Sons, 197-198, 220-222.
[43] Liu, J., & Cheah, C. Y. (2009). Real option application in PPP/PFI project negotiation. Construction management and economics, 27(4), 331-342. doi:10.1080/01446190902807071