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Antunes, R, González, V A, Walsh, K, Rojas, O, O’Sullivan, M and Odeh, I (2018) Benchmarking Project-Driven Production in Construction Using Productivity Function: Capacity and Cycle Time. Journal of Construction Engineering and Management, 144(03).
Atherinis, D, Bakowski, B, Velcek, M and Moon, S (2018) Developing and Laboratory Testing a Smart System for Automated Falsework Inspection in Construction. Journal of Construction Engineering and Management, 144(03).
Castillo, T, Alarcón, L F and Salvatierra, J L (2018) Effects of Last Planner System Practices on Social Networks and the Performance of Construction Projects. Journal of Construction Engineering and Management, 144(03).
Chiang, Y, Wong, F K and Liang, S (2018) Fatal Construction Accidents in Hong Kong. Journal of Construction Engineering and Management, 144(03).
Darwish, M, Elsayed, A Y and Nassar, K (2018) Design and Constructability of a Novel Funicular Arched Steel Truss Falsework. Journal of Construction Engineering and Management, 144(03).
Huo, T, Ren, H, Cai, W, Shen, G Q, Liu, B, Zhu, M and Wu, H (2018) Measurement and Dependence Analysis of Cost Overruns in Megatransport Infrastructure Projects: Case Study in Hong Kong. Journal of Construction Engineering and Management, 144(03).
Jang, W, Yu, G, Jung, W, Kim, D and Han, S H (2018) Financial Conflict Resolution for Public-Private Partnership Projects Using a Three-Phase Game Framework. Journal of Construction Engineering and Management, 144(03).
- Type: Journal Article
- Keywords: Conflict management; Public-private partnership; Financial restructuring; Negotiation; Two-level game theory; Thee-phase game; Contracting;
- ISBN/ISSN: 0733-9364
- URL: https://doi.org/10.1061/(ASCE)CO.1943-7862.0001442
- Abstract:
Many countries use financial aids to expedite public-private partnership (PPP) projects, depending on their financial status and/or demand for additional infrastructure. Minimum revenue guarantees (MRGs) are one financial aid option that costs the Korean government US$2.7 billion in liabilities annually. To reduce these considerable expenditures, this study proposes resolving financial conflicts using a three-phase game framework with a bargaining phase, a ratification phase, and a decision-making phase. The first two phases are adopted from traditional two-level game theory, and the last phase is added to support sequential negotiations and multiple buyers. To confirm the usability of proposed framework, the authors conduct illustrative case applications with two representative real-life PPP cases. Case 1 shows that qualitative bargaining power can be accurately quantified, and Case 2 demonstrates that empirically calculated values can be used in negotiation practice. The framework proposed in this study reduces the range of negotiation, the time required to negotiate, and the damage caused by conflicts. Additionally, the frame is expected to support strategic negotiations and well-structured decisions in financial conflicts between key stakeholders.
Liao, P, Shi, H, Su, Y and Luo, X (2018) Development of Data-Driven Influence Model to Relate the Workplace Environment to Human Error. Journal of Construction Engineering and Management, 144(03).
Shrestha, P and Behzadan, A H (2018) Chaos Theory–Inspired Evolutionary Method to Refine Imperfect Sensor Data for Data-Driven Construction Simulation. Journal of Construction Engineering and Management, 144(03).
Tatum, C B ( (2018) Construction Engineering Research: Integration and Innovation. Journal of Construction Engineering and Management, 144(03).
Tatum, C B ( (2018) Learning Construction Engineering: Why, What, and How?. Journal of Construction Engineering and Management, 144(03).