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RISConceptual Profit Allocation Framework for Construction Joint Ventures: Shapley Value Approach
Publisher: ASCE
Abstract: Construction joint ventures (CJVs) execute business by pooling diverse technical and financial contributions from collaborating entities. Traditional CJV profit-allocation approaches account only for investment shares, and ...
Sustainable Disaster Recovery: Multiagent-Based Model for Integrating Environmental Vulnerability into Decision-Making Processes of the Associated Stakeholders
Publisher: American Society of Civil Engineers
Abstract: The goal of sustainable disaster recovery is to regain the built environment’s functionality while decreasing the vulnerability of the society to future perturbations. This requires a new generation of decision support ...
Sustainable Disaster Recovery Decision-Making Support Tool: Integrating Economic Vulnerability into the Objective Functions of the Associated Stakeholders
Publisher: American Society of Civil Engineers
Abstract: Natural disasters affect the built environment’s infrastructure and disturb the economic sector’s sustainability and welfare. This requires a disaster recovery decision support tool that capitalizes on the redevelopment ...
Integrating the Social Vulnerability of Host Communities and the Objective Functions of Associated Stakeholders during Disaster Recovery Processes Using Agent-Based Modeling
Publisher: American Society of Civil Engineers
Abstract: Disaster recovery requires the participation of the stakeholders to repair the impacted community. Nevertheless, disaster recovery remains understudied within the context of emergency management. Various models have been ...
Current Applications of Game Theory in Construction Engineering and Management Research: A Social Network Analysis Approach
Publisher: ASCE
Abstract: Game theory provides a rigorous mathematical approach to evaluate and predict stakeholders’ interactions. Even though the construction industry is rich with encounters among its stakeholders, construction engineering and ...
Impact of Altering the Bid Selection Method to Below-Average Method: An Agent-Based Modeling Approach
Publisher: American Society of Civil Engineers
Abstract: Numerous research proposed alternative selection methods to compensate for the drawbacks of the lowest qualified bidder (LQB) approach, including the below-average-bidder (BAB) method. While previous work has been carried ...
Game Theory Approach to Decision-Making Analysis of Dispute Resolution
Publisher: ASCE
Abstract: The issues of disputes in construction projects are unavoidable and result in many conflicts that impact the project’s performance, contribute to project cost overruns, and may lead to several delays in the project’s ...
Team Selection and Cost Deviation Sharing in IPD Systems for Emerging Markets: A Cooperative Game Theory Approach
Publisher: American Society of Civil Engineers
Abstract: Regardless of its ability to efficiently achieve the projects’ goals, integrated project delivery (IPD) is one of the project delivery systems (PDSs) that is seldom used in emerging markets due to its unfamiliarity in the ...
Evolutionary Stable Strategy for Postdisaster Insurance: Game Theory Approach
Publisher: American Society of Civil Engineers
Abstract: Mitigation of the financial impacts associated with natural disasters is becoming an urgent objective at both the national and international levels, as the rate and magnitude of natural disasters are continuing to increase. ...
Construction Bidding and the Winner’s Curse: Game Theory Approach
Publisher: American Society of Civil Engineers
Abstract: In the construction industry, competitive bidding has long been used as a method for contractor selection. Because the true cost of construction is not known until the completion of the project, adverse selection is a major ...