Towards a more stable Construction Joint Venture agreement: individual rationality vs. fairness ...
Taylor & Francis, 2024
academicJournal
Zugriff:
Contractors’ decisions are individually rational and not always based on fairness that is needed in collaborative projects, such as Construction Joint Ventures (CJVs). This paper provides a comparative analysis between rational and fair-based sharing in CJVs risk management, along with the commonly used investment-based approach. The analysis is divided into two processes; (1) the contingency cost (CC) calculation process to generate the CCs based on the probabilities and impacts of the project’s different risk factors; and (2) the sharing process to allocate the payoff shares to the participating players using three different cooperative game theory (CGT) solution concepts, namely Kernel, Shapley value and τ-value. The analysis is carried out using two illustrative case studies drawn from the literature. The authors mathematically analyzed the stability of the coalition, and evaluated the results through a questionnaire survey held by construction practitioners to offer their perception on the proposed ...
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Towards a more stable Construction Joint Venture agreement: individual rationality vs. fairness ...
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Autor/in / Beteiligte Person: | Shahin, Yasmein ; Eid, Mohamed S. ; Ahmed, Hassan ; Elhakeem, Ahmed |
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Veröffentlichung: | Taylor & Francis, 2024 |
Medientyp: | academicJournal |
DOI: | 10.6084/m9.figshare.25111255.v1 |
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