Abstract The educational budget system and relevant decree have been promulgated since 2000. One of the important changes is the budget of each educational institute has been changed to funds system. Each educational institute should funds raised by itself. Come down a few years, inside in educational institute get up asymptotic change. They should have more interaction with the societies in order to obtain more resources. Because of the change and development of the social attitude, government¡¦s public affair budget has adjusted by a wide margin. Increase in the social welfare expenditure, comparatively, the budget of public construction are squeezed. The Law for Promotion of Private Participation in Infrastructure Projects, which was promulgated on Feb. 9, 2000, espouses the spirit of vigorous innovation and, from the aspect of creating benefit, establishes partnership relations between the government and the private sector. The main features of this law include the following: 1. Embodiment of general-type legislation. 2. Embodiment of the civil contract concept. 3. Maximization of private participation. 4. Maximization of government carefulness. The law builds the new bridge between public sector and private sector for working together. This research takes educational institute as an example, besides offering private participation opportunity; the project find the way to renew the facilities in the institute. The result of this research shows, consider the factors, such as the investment benefit, the right of consumers, the reasonable market price, etc, then adjust the proportion of investment, contract time, and find the way balancing between the public and private sector. It shows by the feedback plan to the institute or public sector. When the public sector carrying out BOT plan, should consider different plan characteristics, scale, market value, etc. adjust the relation with the private sector. Find the way working together, and make the project success. KEYWORD¡G educational institute, budget, Private Participation in Infrastructure Projects, investment feasibility study

Because the information advance in technology, the social welfare gradually increase, creates the government expenditure to increase, the finance is difficult. In 2000, the government had announced private participation public construction law, positively impelling the private organization participation public construction, and used the resources, the technology, the efficiency to lighten the government serious financial burden, and created the vigorous folk commercial vitality. The high tech health center is medical industry extending, and is one kind of important tool to impel the preventive medicine. Although it has used the massive medicine theory and the technology, it has not involved the treatment behavior and the medicine prescription. However, it still located in the medical scope, must controlled by the government health organization. At present, the health center has two kinds of managements, one is attached in the hospital, and the other picks the independent form. This case belongs to former. The rehabilitation, operation and transfer on the positron emission tomography center of Kaohsiung Veterans General Hospital bases on the law of private participation public construction. The rehabilitation and operation periods amounts to 11 years. Kaohsiung Veterans General Hospital should suggest that specialized organization or by itself to handle the feasibility and earlier scheme before R.O.T. proposals. If the earlier scheme checks to pass, Veterans General Hospital has to proceed following system of preposition and commercial attraction. Bases on the market analysis, we find that five hospitals have been established positron emission tomography equipment in the area of Kaohsiung and Pingtung. At present, the market supplies increase much, and potential market demands develop slowly. Under these factors disturbance about global budget payment system or hospital excellent project, it inevitably will have the influence on the investment will of industry. Moreover, the condition of industrial and marketable environment, like the supply source of positron medicine FDG, the degree of market development, the medical standard of teams, will be the essential topics. From financial assessment, we find that the private organization participates in the business of the positron emission tomography center of Kaohsiung Veterans General Hospital by the R.O.T. form, Kaohsiung Veterans General Hospital could gain considerable premium, the management efficiency, the higher reputation, and provide the precise health examines. The franchised corporation also could gain required return. The bank financing gets safety. Therefore, the contract about the private participation in the positron emission tomography center of Kaohsiung Veterans General Hospital resembles reasonable. By the sensitivity analysis, we find that the key factors in turn as follows: Revenue, operating cost, operating expenses, initial investment, and financing interest rate. Revenue at their own expense affects this case much higher than customers. Health insurance revenue is regulated by the global budget payment system, we find that pay point is more sensitive than pay value per point, and the franchised corporation must spend more resources to develop the market about non-insurance revenue. The R.O.T. on the positron emission tomography center of Kaohsiung Veterans General Hospital belongs to successful case, its main points including: First, we can use R.O.T. business model to break these constraint of laws and regulations, effectively promote the management elasticity and the overall achievements. Second, the party of the public in the plan and operating stage assigns professionals and continues to participate in the coordination and the management, which is helpful to the project implemented. Third, with the lower premium threshold and the higher surveillance standard, this is helpful to the quality control. Finally, by financial assessment, we can control risk management in advance.

It is been an international trend to introduce the private participation ideas to improve the public service quality. Based on the most concerned issues, such as quality and cost, in the construction and operations phases, the private sector plays an important part in major transportation projects. It is important that the government and private sectors works together to promote construction of infrastructure. It is common to implement the BOT approach to the public major construction project. The BOT approach,which needs the cooperation of both government and private sector, is often implemented in the major construction projects. Unfortunately, due to lots of abuses and corruption happened in the process recently, both of them have to face not only challenges by public but also integrity in every government employee. We find out this is very controversial for the Kaohsiung Mass Rapid Transit project, the most media criticized. That is the reason we the KMRT project is chosen as an example for the study on the private participation in the major government projects. It is necessary to establish a mechanism to control the government and the private sector to balance both benefits. The study will focus on the supervision and management of the administration of government to the private sectors, participating in the major transportation projects. The aim of investigation is to establish the optimal supervision and control operation model based on the maximum participation of private sector and the interest of government. The supervision and control operation model and the project progress in BOT management must according to the rules:standard operation procedures, a robust financial audit system, responsible supervision and management mechanism, and a good partnership of both parties. Therefore, the mechanism has an important function, which reflects effectiveness, efficiency, profit, prevent from abuses, response, and prospects. The study is based on documentation, information research, case study, and suggestions from: Laws and regulations: avoidance of old law and review and modification of new law. System: establishment of audit management meeting and implementation of contract fulfillment management mechanism. Practice: evaluation of planning and the feasibility study, establishment of fair and open selection process, the evaluation of the implementation ability of the private sector, the fair risk sharing in concessionary contract and the enhancement of the management operation.

In recent years, it has been increasingly become a global trend that public construction projects are carried out through private sector investment, and business management concepts are introduced for the improvement of public service quality. Due to various factors such as quality and revenue, private sectors increasingly play an active and important role in various phases of major public construction works, from building to operation, and government has the need to incorporate the strength of private sectors to facilitate and promote the construction of major national infrastructures. Among various models of private sectors¡¦ participation in public constructions, build-operate-transfer (BOT) is the most commonly adopted business model. However, in the process of promoting major BOT cases, the government had suffers some drawbacks of abuses of power and privilege, and thereby receiving much criticism from general public, and it also has serious negative impact on the integrity of the government. The case of abuses in the government that drew the most criticisms and raised controversies was the Electronic Toll Collection (ETC) case, where as it transpired had repeatedly drawn much attention from the media and the society at large. Therefore, the ETC case is chosen as the subject of the current study. This study is focused on the related rulings of the ETC case by Taipei High Administrative Court and the Supreme Administrative Court, and the related issues of the court¡¦s rulings on the ETC case are investigated and discussed, to clarify the nature and characteristics of BOT and related legal issues. Thus, the related rulings of the ETC case can be used as a lesson learned for future participation of private sectors in public constructions. This study was carried out by literature search, case studies, and collection of public opinions, and as a result the following recommendations were made: 1. Legislative Perspectives: (1) Incorporate international experiences and amend existing legislations to gear to international conventions. (2) Establish rules of judgments for administrative sectors to avoid any abuse or impediment of administrative power. 2. Institutional Perspectives: (1) Expand and encourage participations from all parties, including people¡¦s representatives and third parties. (2) Realize managerial and operational mechanisms. (3) Emphasize consumer¡¦s rights and public interests. (4) Carry out feasibility assessment and advance planning with great care. (5) Establish fair and open evaluation process and operation procedure. (6)Assign reasonable risk-sharing responsibilities for special permission contracts.

With the increasing understaning of the need for sustainable development, many are finding that existing systems of governance are not sufficiently complex to solve the environmental crisis (see Glasbergen, 2011; Brown et al., 2009). As a result, the recent years has seen the rise of public-private participation, strengthened by the endorsement of the concept by the World Summit for Sustainable Development in Johannesburg in 2002 (Andonova, 2010). In Europe, the concept of collaboration between state and private sector has been further endorsed by EUCETSA and former SWENTEC. Using a literature review to establish a theoretical basis, the study then embarks on a qualitative case-study of regional environmental technology networks. This study investigates the motivations causing the companies and networks to go into partnership with one another, and whether these motivations conflict. It also aims to find the perceived benefits of cooperation and the perceived end goals. The study finds that motivations for entering into partnership often seem to be business opportunity-oriented, although elements of risk, values, legal compliance and using existing capabilities also play a large role.

Abstract Promotion of private participation is catalogized as concession model of construction means. The process is the authority to select the private sector that has the best professional knowledge and capability and to transfer the properties to the selected private sector and confer the private sector the concessionary. The private sector then is responsible to finance, construction, operation during the concessionary period. The revenue of the operation and the ancillary business that concessioned by the government will cover the cost of operations and construction. After the concession period, the rights and operations will be transferred to authority. The spirit of private participation is in the process of the private participation. The involvement of private sector injects the flexibility and energy that the government lack of. The private sector also shares the cost of construction that is some financial burden of the government. For this kind of approach, the private sector needs more flexibility and own operations freedom and shares most of the risks. As for the supervision of the government, in general, the less the better. Because the private sector makes its own construction and operations strategies and sales management. In other words, the private sector shall has the independence. The interference of the government shall be limited to minimum, even for the public interest, to prevent the incompatibility of the two sectors and the negative effect of the promotion of the public construction.. However, the supervision logic is excluding the cases that the government financing most of the cost and the interest of the public. This paper argues that the public construction with private participation approach shall be case dependent, from the administration point of view. For the high public interest and high financing project, The government based on his authority and responsibility shall be supervised intensively to ensure the quality and safety of the public construction. One of the issues that the paper raised is the supervision role of the authority. This paper argues how the authority to be a good supervisor. How the authority does his responsibility and accomplish his mission and take appropriate measures to ensure the good quality of the public service continuously. For research methodology, the reference analysis is adopted. The theory and system of private participation are discussed. As for case study, reference and interview are adopted. The supervision and management of private participation of Kaohsiung mass rapid transit by government is analysed to bridge the theory and practice. The characteristics of this project is low self-financing rate. The government financing the rest part of the cost, which is about 80%of the cost. In this project the government also guarantees the forced buy out price, which states clearly in the tri-party contract. This make the financial risk is all on government. The way of taking risk is more likely the OT approach. From the interview, the implementation of the project reveals that anti-supervision game, multi-supervision and management system. Also the different sectors has different understanding of the project. The legal position of the supervision role of the authority is the legitimate to supervise and take appropriate actions. The public sector acts according to laws and safeguards the public interest. The authority has the righteous to supervise, the legal stance. Another role of the authority is also the party of the contract to protect his interest in his investment, which is stemming from the contract, the legal rights from the private sector. During the construction and operations period, the authority shall review and supervised. The legal measures for authority includes the supervision of operations, the restrictions of concessionary, the dispositions of the assets of the construction and operations, The review of the operations fare and changes. The rights stemming from contracts includes setting the standards of the operations facility, the review of the design drawings and schedules and construction quality and subcontracting, the public tendering of parts of the governments financing. For the combinations of both supervision measures includes financial supervision and the acceptance of important contract subcontracting. If the delay of schedule, serious construction quality, serious operations problems, and breach of contract happens, the authority, for the public interest, shall coerce request the private sector to amend in due time, stop all or part of construction and operations abolish the permissions of construction and operations or coerce takeover operations or buyout to ensure the project. As for the rights stemming from contract includes risks sharing, the conditions that the intervention of the financing institutions, suspending all or part of the construction or operations, cease of contract, insurance and bond, mechanism of loyalty and fund. In this study, the legitimate of the supervision role of the authority is discussed and aims to have a robust structure of private participation of public construction system to achieve the goal of promoting public service standard and accelerating development of social economy when promoting privatization of public construction.

依據我國促進民間參與公共建設法，民間機構參與公共建設之主要方式有六種，其中又以BOT模式最具代表性，最常為世界各國所採行。 BOT專案融資之償還責任，由傳統的政府機關移轉到民間企業集團承擔，而民間企業集團除有限的自有資金部位之外，大部分資金仍需仰賴金融機構融通，亦即，政府機關移出之風險，到頭來還是會轉嫁到融資機構。因此，融資機構除了審慎評估專案融資風險或尋求其他有效方法轉嫁風險如保險或共同承貸等之外，另需透過契約妥適規範風險分攤，才能有效控制風險承受程度。 鑒於「專案融資」為BOT專案計畫最重要關鍵變數之一，本研究除了深入探討BOT專案計畫之定義、適用之先決條件、法源依據、基本契約架構、民間參與公共建設涉及政府出資樣態，並述及可行性評估、先期規劃、招商作業、甄審及評決、議約及簽約、興建、營運及移轉等作業流程，再就攸關BOT專案計畫成敗之「專案融資」起源、意義、計畫、類型、優缺點、與傳統融資之差異、當事人法律關係、法令規範、風險管理、政府提供融資協助機制等進一步研析；最後援引並評析臺北縣政府刻正辦理之重大BOT「徵求民間參與淡水鎮漁人碼頭休閒專用區觀光旅館暨藝術大街計畫案」，俾結合專案融資理論與實務。 綜上研究，歸納提出5項結論併相關建議，備供學界及實務界人士參考。 一、BOT專案成功關鍵繫於當事人間之風險認知與有效溝通協調。 二、政府融資協助機制相對保守。 三、現行BOT計畫之融資管道仍以間接金融為主。 四、實務上，融資機構評估意見之甄審評分權重比率並不高。 五、促參案件爭訟之實務判決案例仍然不多。 / According to our Act for promotion of private participation in infrastructure projects, the private institution may participate in an infrastructure project by six means but BOT is the typical model that usually be adopted in the world. The responsibilities of the debt of BOT project finance have transferred to private institution from the authority in charge of government. Nevertheless, except limited private capital, lots of capital for BOT still needs to depend on the financing institution. That is, the risk of the debt of BOT project finance will transfer to the financing institution finally. Therefore, besides evaluating the risk of project finance deliberately or looking for the effective methods to transfer the risk by insurance or consortium loan, the financing institution needs to plan the appropriate risk distribution via the contract for controlling the risk that can be accepted. Because project finance is one of the most important key factors of BOT, besides fundamental characteristics, suitable conditions, law bases, contract frame, the investment types of government and the process of feasibility study, preliminary plan, announcement by a public notice, evaluation and selection, negotiation and signing of concession agreement, construction, operation and transfer, this research will further study BOT project finance, relevant risk management, law relation between the persons involved, the financing assistance by government . Then, proceeded with the representative case study domestically and laid the special emphasis on both of principal plan terms and important financing conditions. According to the research as above, summarized five conclusions combined with suggestions as following for reference. 1. The key factors of success about BOT depend on the risk understanding and effective communication between the participators. 2. The regulation of financing assistance by government is conservative relatively. 3. Indirect finance is the principle channel for BOT at present. 4. The weight of opinion of financing institution evaluating BOT is not enough. 5. There are still a few cases with regard to the law suit about promotion of private participation in infrastructure projects.

As the global economy and market demands evolve to be more transparent, time-sensitive and competitive, privatisation in organisations has become a phenomenon renowned for the advantages it delivers of increased productivity and profitability. Port privatisation is no exception. Aimed at achieving improved operational efficiencies and the reduction of port costs, port privatisation has evolved and yielded varying results. Depending on prevailing social, economic and political circumstances, these effects differ amongst countries. This dissertation analyses this phenomenon, focusing on whether a port and its related services are public or private goods; why governments choose to produce and provide port services; what various international port privatisation models can positive lessons be drawn from; and what the impacts of port privatisation are. South Africa has recently avoided the arguments around port privatisation, due to pressing socio-political issues, and the analysis of economic gains and losses associated with privatisation may offer insights into why such government decisions would have been made. / Economics / M. Com. (Economics)

區段徵收為目前政府大規模進行土地整體開發，促進都市發展，以及無償取得公共設施用地的重要舉措之一，為一種具有高度自償性之土地開發事業。由於區段徵收需要投入大量的資金與人力，在政府財政困窘及國內不動產市場自民國81 年以來，長期處於不景氣之故，其非但無法達成原先設定之有效減低公共支出之目的，反而需要額外編列預算以支應財務缺口。爰此，造成縣市政府往往視區段徵收為畏途，但礙於相關政策規範及都市發展須盡速取得必要之公共設施用地，而不得不予執行，從而導致惡性循環，因此，如何解決區段徵收財務問題，乃成為政府必須面對的最大困境與挑戰。 在政府財政狀態日益惡化，短期內又無法籌措區段徵收開發過程中龐大的資金需求，再加上地方專業人力不足之困境下，使得區段徵收之辦理型態有所演變，部分地方縣（市）政府遂逐步引進民間資源與活力（即BT模式），朝向由民間機構自行籌措資金並由該機構專業人員負責規劃與執行開發工作，政府從旁提供必要之行政協助。此外，開發所需總費用均先由民間機構墊付，而政府再以剩餘可建築土地來償付費用，藉此創新開發模式，以有效解決區段徵收有關資金籌措及開發後土地去化等至為關鍵之癥結問題。 然而BT模式在實務執行過程時，仍存在著法令、政策制定及實施方式等相關爭議，以致於無法有效大量推廣實施，本文藉由研究相關法令、文獻記載、分析目前實施案例、並透過訪談專家學者及整理相關問題等，說明區段徵收業務在走向政府委託民間機構、引進民間資源辦理區段徵收BT開發模式時，所需面對與管理之委託-代理關係，藉由代理理論，探討區段徵收實務執行層面中，可行的解決措施（包括誘因與監督機制），並建議區段徵收應與時俱進地檢討與修正相關配套措施，以利此項善用民間資源與活力，並具有突破性的土地開發委外機制能夠更臻完備，並可作為後續土地整體開發學術研究之重要參考。 綜合本研究之結論與建議，謹分述如次： 一、結論 （一）區段徵收機制基於政策、民意與制度之可行性，可以作階段性創新改革。 （二）現行區段徵收委外機制相關法制，尚欠完備。 （三）區段徵收委外辦理機制，應同時配套建構監控制度。 （四）區段徵收委外過程，應運用誘因機制，以避免代理問題產生。 （五）區段徵收BT開發模式，應可進一步強化學術研究與應用探討。 二、建議 （一）限期檢討修正區段徵收BT開發模式法制化工作。 （二）由中央與地方成立專案小組，全力協助BT得標廠商。 （三）加強BT開發模式之宣導，建構良好的溝通協調機制。 （四）根據現有兩案例開發結果，審慎評估策訂推廣實施計畫。 / Zone expropriation is presently the large-scale integrated land development carried out by the government to promote urban development. Acquiring land for public facilities without compensation is also an important measure to have high self-liquidation of land development enterprise. Because zone expropriation needs to invest in a great deal of funds and manpower, the government finance and the domestic real estate market were in a long-term depression from 1981 until 1992. Not only unable to reach the targeted profit margin to reduce the public expenses, additional budget is needed to deal with financial gap. Therefore, it makes the county and city government often look at zone expropriation as a dangerous choice to take. But hindrance related to policy standardization and urban development must acquire the necessary land for public facilities as soon as possible because there's no choice but to implement it. As a result, it leads to a vicious circle. Therefore, the government needs to face the greatest dilemma and challenge on how to settle the zone expropriation financial problems. The financial status of the government is worsening day by day. Within a short time the government was unable to raise funds for the huge financial requirement of the zone expropriation. In addition, professional manpower is also a dilemma, causing the handling pattern of zone expropriation to evolve to some extent. Partially the local county and city government gradually brings in non-government resources and vitality (private participation-BT mode). Non-government organizations voluntarily raise funds and professionals in private sectors manage the plans and implementation, while the government provides necessary administrative assistance. In addition, the development necessary for the total costs is paid first by the non-government organization, and the government excess land will be liquidated, thereby creating modes in effect of settling the zone expropriation's fund raising and developed land key problems. However in the implementation of the BT mode process, the decrees, policymaking and implementation methodology related to disputes are still kept. Because of the incapability to take effect the large number of widespread implementation, this writing discuss about the laws, research about decrees, document records, analysis of present case studies, and interviews of professional scholars and arrangements related to the problems. Zone expropriation business is illustrated in moving towards the government's entrusting of non-government organizations. The introduction of non-government resources to handle the zone expropriation BT development method is necessary for facing with the management of principal-agent relationship. By means of principal-agent theory, probing into the implementation dimension, feasible resolutions (including incentive and monitoring mechanism), and recommending the steady advancement of zone expropriation to review and amend about the formation of a complete set of measures, these are all for making good use of non-government resources and vitality, as well as to have a break through in the land development outsourcing mechanism to make them more perfect, and may make a follow-up for the land integrated development academic study of important references. Summary, Conclusion and Recommendation: 1. Conclusions: (1)Gradual improvements can be made on the zone expropriation mechanism based on policy, public opinion and system feasibility. (2)The legal system regarding the current zone expropriation mechanism is still incomplete. The external committee handling zone expropriation should simultaneously form a complete construction monitoring system. (3)The external committee handling zone expropriation should utilize a financial incentive mechanism to avoid any problems. (4)A zone expropriation based on the BT model should go further in strengthening academic research and application 2. Recommendations: (1)Establish a deadline for reviewing the legal work for zone expropriation in the BT development model. (2)Allow the national and local relevant groups to fully assist the winning bidder for the BT project. (3)Strengthen guidance for the BT development model; construct a good communication mechanism. (4)Based on the development results of the above case studies, carefully appraise the presented implementation plan . Keywords: Zone Expropriation、Private Participation(BT Mode)、Principal-Agent Theory、Incentive Mechanism

「促進民間參與公共建設法」賦予民間機構從事開發交通建設所需用地，藉以提高交通建設之財務自償能力。回顧目前國內所推動之高速鐵路及捷運建設BOT案，均藉由土地開發收入以挹注建設成本，誠然所引發公共論壇的焦點環繞在土地開發利益議題上。惟土地開發收入取決於開發規模及代理人努力效果等因素，在政府與民間機構存在對土地市場價值資訊不對稱下，恐衍生委託代理問題與權力宰制。 審視現行法令賦予私有土地參與捷運場站開發制度，包括政府和所有權人合作開發、政府徵收開發、所有權人申請開發等多樣性之土地開發方式。面對具提高不動產價值之捷運場站土地開發，研究思維理應從單向滿足民間機構對土地開發需求外，亦需同時考量維護所有權人參與之權益，各方最佳的策略與報酬，並非獨立於他人的行動之外，其間之策略組合報酬主要涉及土地開發方式之權益分配率及開發回饋金，捷運場站開發制度存在策略賽局關係。 因此，如何建構兼具代理規範、參與決策及均衡結果為導向的制度經濟分析模型，已成為推動民間參與捷運場站土地開發之關鍵所在。本研究首先，嘗試以代理理論、權力面向及賽局理論分析方法，作為民間參與捷運場站土地開發制度之立論基礎；其次，深入分析土地開發之代理與權力交互效果，重新詮釋資源配置效率問題；其三，研擬民間參與之代理與賽局整合模型，經由制度賽局均衡結果以達成各方自由選擇下之同意；最後，進行案例模擬分析。 本研究所獲致之結論包括：(1)民間參與捷運場站土地開發制度得以代理理論、權力面向及賽局理論一窺全貌；(2)制度的賽局均衡觀得以降低因徵收土地開發之代理與權力交互關係對資源配置效率之衝擊；(3)模擬分析民間參與之代理與賽局整合模型具可操作性並可運用於實務界。再者，本研究所提出之建議包括：(1)建構政府與民間機構之代理模型俾以降低委託代理問題；(2)建構政府與所有權人之制度賽局模型俾以達成自願交易；(3)建構代理規範與制度賽局之整合模型以維護所有權人參與土地開發之權益。 / “Law for Promotion of Private Participation in Public Infrastructure Projects” provides a mechanism for the private sector to develop the land for any public infrastructure project so that the financial self-liquidating ratio may be increased. The financial concept of BOT projects in Taiwan, such as HSR and MRT, is to recoup the cost of the infrastructure project by land development revenues. Indeed, the public concerns focus on the revenues, which depend on the institution and scale of development. However, the revenues depend on the scale of development and effect of the agent’s efforts. While the information asymmetry exists, there may arise the issues of agency and power control. The institution of the MRT station development provides a diversity of land development, including cooperation development, expropriation development and application development. The development issue has switched from government-led development approaches to the interaction between the government and landowners. As for the payoff function of their strategy combination, it depends on the right distribution rate and feedback payment. In the MRT station development institution exists a form of strategic game. Therefore, how to establish an institutional economic analysis model takes agency norm, and involves decision-making and equilibrium, which forms the criterion, serving as a key to promote the private participation in MRT station development. This study attempts: First, to analyze the private participation in MRT station development based on the agency theory, power dimension, and game theory. Second, to explore the allocation efficiency of resources under the interaction effect of agent and power. Third, to establish an integrated model of both the agent and the game, which by equilibrium-of–the-game view of institutions reach a mutual agreement among the government, private sector, and landowners. Finally, case simulation. It is concluded that, (1) the institution of the private participation MRT station development may be fully reviewed by agency theory, power dimension, and game theory. (2) the equilibrium-of–the-game view of institutions may reduce the impact on the allocation efficiency of resources under the interaction effect of agent and power. (3) by case simulation found that the integrated model of both agent and game is available. It is suggested that, (1) to establish an agency model for both the government and private sector serves to solve agency issues. (2) to establish an institutional game model for both the government and landowner functions as voluntary exchanges. (3) to establish an integrated model of both agent and game helps to keep landowner on the rights of participation in MRT station development.