Bilevel Programming Model of Private Capital Investment in Urban Public Transportation: Case Study of Jinan City

Table 1

Differences in profits with and without considering passenger value.

	Not considering passenger value	Considering passenger value
Benefits of private capital company	Ticket fare	Ticket fare
	Profits of cash flow in accounts (bank interest)	Profits of cash flow in accounts (investment profit)
	Advertisement profits (bus body and platform ads)	Advertisement profits (bus body and platform ads, e-commerce ads)
	Government subsidies	Government subsidies
Costs of private capital company	Fixed cost (including the involvement fees)	Fixed cost (including the involvement fees)
	Variable cost	Variable cost, returns to passengers