Incentive, Supervision and Risk Distribution in Project Finance

The models of incentive and supervising between owner and operator under the condition of non-cooperation were advanced when there was one variable of operator´s endeavor. And this paper established the mechanisms of incentive and supervising between owner and operator under asymmetric information after solving the two models, then, advanced the cooperation game model in participant´s distribution of risks of project financing, distributed the risk optimally among all the participants, and supplied the reference to project financing risk management under asymmetric information.