PURPOSES : This study aims to analyze the impact of demand risk on two public-private partnership (PPP) projects, namely BTO and BTO-a. The main aspects covered in this study are: i) identification of key risk issues considering the structure of PPP projects, and ii) game theory-oriented scenario building and simulation of demand risk allocation from participants’ perspectives. METHODS : Using the institutional analysis and development (hereafter IAD) framework, a hypothetical structure is formulated to examine the interactions of demand risk. It develops a series of demand risk allocation models for PPP projects (i.e., BTO and BTO-a). The risk structures from the IAD step are the demand risk allocation issues. Using game theory-oriented simulation, this study evaluates demand risk based on scenario building. RESULTS : First, this study highlights the imbalanced rate problems of returns between the BTO and BTO-a projects proposed by the market. This may lead to improvement measures geared towards problematic methods for determining the rate of return among domestic PPP projects. Second, compared with the BTO type, this study expects that the BTO-a type may exhibit more effectiveness, which can increase the probability of project success in both the public and private sectors. Third, judging from game-theory-oriented approaches, this study confirms the function of the BTO-a as a method to adjust moral hazard in the private sector. CONCLUSIONS : Government management standards for BTO-a projects were derived based on the simulation results. It is necessary to select an appropriate project method based on rationality by balancing the IRR for each project method. Legal regulations should be applied separately to each part of the government guarantee. In addition, this study emphasizes that the introduction of ex-post value-for-money (VFM) analysis is essential for the efficient management of government expenses.

대형 미디어 파사드 작업과 게임을 결합한 작품을 만드는 사례가 늘어나고 있는 지금, 그 주체가 예술가일 때에 고려해야할 다양한 주제들이 있다. 대형 미디어 파사드에서 게임을 주제로 한 예술을 행하고자 하는 예술가들이 고려해야 하는 사항들, 즉 공공성, 게임성, 관람객의 특성, 공간성 등에 대해 세밀하게 살펴보고 이를 토대로 대형 미디어 파사드가 가지고 있는 특성이 무엇인지를 인지할 필요가 있다. 이를 위해서 게임이 특성이 대형 스크린 공공예술에서 미치는 영향과 작가 중심적인 사고가 미디어 파사드 작업과 게임의 융합에 미치는 영향을 살펴보고자 한다. 이를 바탕으로 관중을 배려하고 효율적인 목적 달성에 이르는 작품 제작에 도움이 되고자 한다.