scholarly journals Applying the noncooperative game model for compensation concept in contractor selection process for large-scale projects

2021 ◽  
Vol 15 (3) ◽  
pp. 123-135
Author(s):  
Pham Vu Hong Son ◽  
Phan Kim Anh
Keyword(s):  
Construction Projects ◽  
Large Scale ◽  
Selection Process ◽  
Noncooperative Game ◽  
Game Model ◽  
Equilibrium Solutions ◽  
Contractor Selection ◽  
Nash Equilibrium Solutions ◽  
High Effort ◽  
Proper Strategy

Nowadays, the scale of construction projects has been larger and more complex, the tender preparation is often costly to the bidder thus. It is becoming one of the primary barriers for attracting bidder’s involvement, as well as contractor's encouraging high effort. Bid compensation concept is proposed as a reward to foster the bidder participating in a higher endeavor. Game theory is ideal for modeling the dynamics and deriving high-effort strategies for bid compensation. The experiment results have demonstrated the owner can gain benefit by using rational compensation. The sensitivity analysis also shows the interest correlation between the owner and bidders. By choosing a proper strategy based on Nash Equilibrium solutions, both the owner and bidders can reach to win-win situation.  

Rent-Seeking Game Analysis and Countermeasure Study of Contractors in Various Stages of Construction Projects

2013 ◽  
Vol 405-408 ◽  
pp. 3473-3476
Author(s):  
Cheng Zhi Li ◽  
Feng Peng
Keyword(s):  
Game Theory ◽  
Social Welfare ◽  
Construction Projects ◽  
Rent Seeking ◽  
Game Model ◽  
Equilibrium Solutions ◽  
Game Analysis ◽  
Countermeasure Study ◽  
The Game Theory ◽  
Seeking Behavior

Project quality is affected by many factors,of which the rent-seeking behavior of the contractor is an important one.In this paper,the contractor’s rent-seeking behavior in various stage of construction projects and its effect to social welfare is analyzed based on the game theory and rent-seeking theory.After building a game model among the owner,contractor and supervisor,some suggestions are propounded to forestall such behavior from the point of equilibrium solutions.

scholarly journals Stochastic Differential Game-Based Malware Propagation in Edge Computing-Based IoT

2021 ◽  
Vol 2021 ◽  
pp. 1-11
Author(s):  
Li Miao ◽  
Shuai Li
Keyword(s):  
Differential Game ◽  
Infinite Horizon ◽  
Optimal Strategies ◽  
Edge Computing ◽  
Game Model ◽  
Stochastic Differential Game ◽  
Equilibrium Solutions ◽  
Stochastic Fluctuations ◽  
Malware Propagation ◽  
Nash Equilibrium Solutions

Internet of Things (IoT) has played an important role in our daily life since its emergence. The applications of IoT cover from the traditional devices to intelligent equipment. With the great potential of IoT, there comes various kinds of security problems. In this paper, we study the malware propagation under the dynamic interaction between the attackers and defenders in edge computing-based IoT and propose an infinite-horizon stochastic differential game model to discuss the optimal strategies for the attackers and defenders. Considering the effect of stochastic fluctuations in the edge network on the malware propagation, we construct the Itô stochastic differential equations to describe the propagation of the malware in edge computing-based IoT. Subsequently, we analyze the feedback Nash equilibrium solutions for our proposed game model, which can be considered as the optimal strategies for the defenders and attackers. Finally, numerical simulations show the effectiveness of our proposed game model.

Game Analysis of Bidder Conspiracy Risk in the Large-Scale Government Construction Project

2014 ◽  
Vol 971-973 ◽  
pp. 2333-2336
Author(s):  
Jian Jun Li
Keyword(s):  
Construction Projects ◽  
Large Scale ◽  
Construction Project ◽  
Game Model ◽  
Game Analysis ◽  
Government Construction

Because the corruption occurs sometimes in Government construction projects of China, the paper develops the game model of Bidders and Owners. Then, by analyzing the model, we find that if increased the probability of conspiracy supervised (discovery possibilities) and increased the intensity of punishment, it will reduce the probability of Bidder Conspiracy Risk (CR). The findings are helpful for the China Government to regulate the bidding policies to prevent the corruption risk.

scholarly journals Identification of Health and Safety Prequalification Criteria for Contractor Selection in Construction Projects: A Systematic Review

Energies ◽  
2021 ◽  
Vol 14 (21) ◽  
pp. 7244
Author(s):  
Nadeera Abdul Razak ◽  
Obuks Ejohwomu ◽  
Peter Fenn ◽  
Kamil Okedara ◽  
Babatunde Dosumu ◽  
...  
Keyword(s):  
Financial Stability ◽  
Construction Projects ◽  
Selection Criteria ◽  
Selection Process ◽  
Health And Safety ◽  
Contractor Selection ◽  
Safety Control ◽  
Management Capability ◽  
Comprehensive Framework ◽  
Industry Professionals

Selecting an appropriate contractor is a crucial phase that clients normally conduct to execute projects. Extensive research has been conducted on the main contractor selection criteria such as financial stability and technical and management capability. However, few studies focusing on health and safety criteria are being used to assess contractors’ safety performance in the existing selection process. Hence, this paper aims to analyse the existing literature on health and safety criteria for contractor selection in construction. The articles were retrieved using developed search string from renowned databases such as Scopus, Ebscohost, Web of Science, Science Direct and Dimensions. This search resulted in a total of 38 papers which can be systematically reviewed. Six main themes were discovered to represent safety prequalification criteria for construction projects, namely, experience and work history, safety control system, safety policy and management, accident rates and records, safety promotion and environmental concerns. Under these six main themes, there are 25 safety prequalification criteria that have been substantially published in previous literature, and the most-cited criteria are examined. This study brings a significant contribution to construction industry professionals, especially clients, when selecting a capable contractor in construction projects. By identifying the safety prequalification criteria, clients can assess a contractor’s efforts in ensuring safe execution of a project before awarding the contract to them. Additionally, the findings of the present study could contribute towards developing a comprehensive framework on contractor selection criteria that incorporates safety leading and lagging indicators.

scholarly journals Resource Allocation in Cognitive Radio Wireless Sensor Networks with Energy Harvesting

Sensors ◽  
2019 ◽  
Vol 19 (23) ◽  
pp. 5115 ◽  
Author(s):  
Haitao Xu ◽  
Hongjie Gao ◽  
Chengcheng Zhou ◽  
Ruifeng Duan ◽  
Xianwei Zhou
Keyword(s):  
Resource Allocation ◽  
Wireless Sensor Networks ◽  
Cognitive Radio ◽  
Energy Harvesting ◽  
Information Transmission ◽  
Wireless Sensors ◽  
Wireless Sensor ◽  
Game Model ◽  
Equilibrium Solutions ◽  
Nash Equilibrium Solutions

The progress of science and technology and the expansion of the Internet of Things make the information transmission between communication infrastructure and wireless sensors become more and more convenient. For the power-limited wireless sensors, the life time can be extended through the energy-harvesting technique. Additionally, wireless sensors can use the unauthored spectrum resource to complete certain information transmission tasks based on cognitive radio. Harvesting enough energy from the environments, the wireless sensors, works as the second users (SUs) can lease spectrum resource from the primary user (PU) to finish their task and bring additional transmission cost to themselves. To minimize the overall cost of SUs and to maximize the spectrum profit of the PU during the information transmission period, we formulated a differential game model to solve the resource allocation problem in the cognitive radio wireless sensor networks with energy harvesting, considering the SUs as the game players. By solving the proposed resource allocation game model, we found the open loop Nash equilibrium solutions and feedback Nash equilibrium solutions for all SUs as the optimal control strategies. Ultimately, series numerical simulation experiments have been made to demonstrate the rationality and effectiveness of the game model.

A dynamic Stackelberg game model for portfolio procurement

2016 ◽  
Vol 116 (3) ◽  
pp. 350-368 ◽  
Author(s):  
Yuan Shi ◽  
Ting Qu ◽  
LK Chu
Keyword(s):  
Nash Equilibrium ◽  
Stackelberg Game ◽  
Risk Preference ◽  
Downside Risk ◽  
Game Model ◽  
Equilibrium Solutions ◽  
Production Decisions ◽  
Content Type ◽  
Nash Equilibrium Solutions ◽  
Price Risks

Purpose – The purpose of this paper is to propose a portfolio procurement framework to response to uncertain customer demand and purchasing price volatility in a simultaneous manner. Then it aims to obtain optimal procurement and production decisions under the portfolio framework to maximize profit. Design/methodology/approach – The portfolio procurement problem is modeled as a dynamic Stackelberg game and Nash equilibrium solutions are obtained. The portfolio procurement framework is analyzed in the settings, with both risk-neutral objective and downside risk constraints measure of contract prices. Findings – By obtaining the Nash equilibrium solutions for both the buyer’s ordering decisions and the supplier’s optimum production decisions, Stackelberg game model for portfolio procurement is proved to be feasible. Additionally, downside risk constrains are proposed to help supply chain participants’ to evaluate the profitability and risk probabilities of the designed procurement contracts under the uncertain customer demand and spot market. Research limitations/implications – This paper assumes the supplier is risk averse and the buyer is risk neutral, and it would be interesting to examine the performances of portfolio procurement strategy with different risk attitudes participants. Practical implications – This research could help the buyer respond to not only demand uncertainty but also the volatile spot price in the procurement process. Related optimal portfolio procurement strategy can be carried out to improve the enterprise’ procurement plan by adjusting the order of long-term contract, option contract and the spot market. The proposed framework could also help suppliers design and evaluate contracts for buyers with different risk preference, and on the other hand help the buyers decide if she should accept the contracts from the supplier. Social implications – This research should also increase awareness in both academia and industry on the opportunities of using the dynamic portfolio procurement approach to enhance flexibility and to mitigate the inventory as well as price risks in the procurement process. Effective downside risk constrains on contract prices could also help to protect the bottom line of companies with different risk preference. Originality/value – The portfolio procurement framework proposed in this research can mitigate inventory and price risks simultaneously. Also, instead of solving the portfolio procurement planning problem in computational simulation experiments as in previous research, this paper proposed a dynamic game model for this portfolio-based procurement problem and obtained its Nash equilibrium solutions for both the buyer’s ordering decisions and the supplier’s optimum production decisions. Finally, an innovative and simple downside risk constraints has been designed to help the buyer evaluate supplier’s contract prices according to their individual risk preference.

scholarly journals An Integrated Decision Support Model Based on BWM and Fuzzy-VIKOR Techniques for Contractor Selection in Construction Projects

2021 ◽  
Vol 13 (12) ◽  
pp. 6933
Author(s):  
Aziz Naghizadeh Vardin ◽  
Ramin Ansari ◽  
Mohammad Khalilzadeh ◽  
Jurgita Antucheviciene ◽  
Romualdas Bausys
Keyword(s):  
Construction Projects ◽  
Construction Project ◽  
Water Channel ◽  
Multicriteria Decision Making ◽  
Decision Support Model ◽  
Cost Overruns ◽  
Contractor Selection ◽  
Model Based ◽  
Fuzzy Vikor ◽  
Bid Price

Sustainable development of any country to some extent depends on successful accomplishment of construction projects, particularly infrastructures. Contractors have a key role in the success of these projects. Hence, the selection of a competent contractor as a complicated and hard decision process has a vital importance in the destiny of any construction project. Contractor selection is in essence a multicriteria decision-making that ought to encompass so many aspects of the project and the client’s requirements on one hand and the capabilities and past records of the contractors on the other hand. Failure in selecting a competent contractor may cause time and cost overruns; quality shortcomings; increasing in claims, disputes and change orders; and even failure of the project. In spite of deficiencies of selecting a contractor by the rule of “the lowest bid price”, it still prevails in many countries including Iran. In this paper, a new contractor selection model based on the best-worst method (BWM) and well-known Fuzzy-VIKOR techniques is proposed as a solution to overcome the deficiencies of the traditional “lowest bid price” rule. An illustrative example of a water channel construction project verified the applicability of the proposed model in practice.

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