Enhancing Game Theory Strategies And Techniques

9102 Words37 Pages
Introduction Research Aim To exploit game theory strategies and techniques in order to apply them to the AEC industry by creating a framework for dealing with the key players. Research Objectives Identify the challenges of design and build contracts and seek solutions through game theory strategies. Identify the players (competitors, complementors, suppliers, custromers) for non-cooperatives and cooperative games. Quantify the role of trust, cooperation (through alliancing and partnering), and technology (i.e. BIM) in improving the decision making process Investigate the feasibility of implementing the Value Net for Design and Build contractors and sub-contractor/suppliers through recognizing the role of PARTS model (Players, Added values, Rules, Tactics, and Scope) 1.Introduction The construction industry is a dominant sector around the globe. It is a key sector that plays a significant role within any country’s’ economy, culture and social development. There are many contradictions in defining the construction industry (Barrie and Paulson, 1992). One of the clearest definitions was by the National Construction Council (NCC), which defined it as a “sector of the economy that transforms various resources into constructed physical economic and social infrastructure necessary for socio-economic development. It embraces the process by which the said physical infrastructure and planned, designed, procured, constructed or produced, altered, repaired, maintained and
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