DocumentCode :
3458462
Title :
Study of the Dynamic Game in Change Pricing between Owner and Contractor
Author :
Lu Wenxue ; Nie Jianming
Author_Institution :
Sch. of Manage., Tianjin Univ., Tianjin
fYear :
2008
fDate :
12-14 Oct. 2008
Firstpage :
1
Lastpage :
6
Abstract :
Construction change is common and inevitable in construction practice and it makes up a large proportion of the initial contract price. Thus disputes often arise between the owner and the contractor in the process of change pricing. Based on this issue, this paper develops a Dynamic Game Model to analyze this process. After solving the game tree, the paper gets the equilibration paths in different conditions and concludes the key factors in the two sides´ decision-making, such as the contractor´s success probability and cost in mediation, the contractor´s cost in arbitration and the owner´s cost in mediation. At last, several suggestions related to the change pricing game for the two sides are presented.
Keywords :
construction; contracts; decision making; game theory; pricing; construction change; construction practice; contract price; contractor; decision-making; dynamic game model; pricing; Contracts; Costs; Decision making; Game theory; Mediation; Pricing; Project management;
fLanguage :
English
Publisher :
ieee
Conference_Titel :
Wireless Communications, Networking and Mobile Computing, 2008. WiCOM '08. 4th International Conference on
Conference_Location :
Dalian
Print_ISBN :
978-1-4244-2107-7
Electronic_ISBN :
978-1-4244-2108-4
Type :
conf
DOI :
10.1109/WiCom.2008.1802
Filename :
4679991
Link To Document :
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