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Ayodele, O A, Chang-Richards, A and González, V (2020) Factors Affecting Workforce Turnover in the Construction Sector: A Systematic Review. Journal of Construction Engineering and Management, 146(02).

Balali, V, Zalavadia, A and Heydarian, A (2020) Real-Time Interaction and Cost Estimating within Immersive Virtual Environments. Journal of Construction Engineering and Management, 146(02).

Bayat, M, Khanzadi, M and Nasirzadeh, F (2020) Bargaining Game Model to Determine Concessionary Items in Build-Operate-Transfer Contracts. Journal of Construction Engineering and Management, 146(02).

  • Type: Journal Article
  • Keywords: Bargaining theory; Finite horizon; Build-operate-transfer; Concession period; Capital structure;
  • ISBN/ISSN: 0733-9364
  • URL: https://doi.org/10.1061/(ASCE)CO.1943-7862.0001774
  • Abstract:
    The parties involved in build-operate-transfer (BOT) projects have conflicting financial interests regarding the value of concessionary items, including concession period length and equity to debt ratio. Determining the value of these items has a crucial role for successful implementation of BOT projects, especially in BOT projects with direct-negotiation procurement. In this research, first, a financial model of BOT projects is developed according to a real-world situation of bargaining. Then, a finite-horizon alternating-offers bargaining game, as a conflict-resolution tool, is chosen and applied. Uncertainties and risks are taken into account. Based on the sponsor’s and government’s share of the project’s financial benefit, the value of concession period length and equity to debt ratio are determined taking into account the lender’s requirements. Finally, the proposed model is implemented in a real-world BOT project to evaluate its applicability and performance. The proposed model enables one to predict the final agreement on concession period length and equity to debt ratio and prevents an unsuccessful negotiation or costly renegotiations.

Bhandari, S, Hallowell, M R, Boven, L V, Welker, K M, Golparvar-Fard, M and Gruber, J (2020) Using Augmented Virtuality to Examine How Emotions Influence Construction-Hazard Identification, Risk Assessment, and Safety Decisions. Journal of Construction Engineering and Management, 146(02).

Cheng, J C P, Chen, K and Chen, W (2020) State-of-the-Art Review on Mixed Reality Applications in the AECO Industry. Journal of Construction Engineering and Management, 146(02).

Enshassi, M S A, Walbridge, S, West, J S and Haas, C T (2020) Dynamic and Proactive Risk-Based Methodology for Managing Excessive Geometric Variability Issues in Modular Construction Projects Using Bayesian Theory. Journal of Construction Engineering and Management, 146(02).

Gao, S, Song, X and Ding, R (2020) Promoting Information Transfer in Collaborative Projects through Network Structure Adjustment. Journal of Construction Engineering and Management, 146(02).

Hong, Y, Hammad, A, Zhong, X, Wang, B and Akbarnezhad, A (2020) Comparative Modeling Approach to Capture the Differences in BIM Adoption Decision-Making Process in Australia and China. Journal of Construction Engineering and Management, 146(02).

Hou, X, Zeng, Y and Xue, J (2020) Detecting Structural Components of Building Engineering Based on Deep-Learning Method. Journal of Construction Engineering and Management, 146(02).

John, S T, Roy, B K, Sarkar, P and Davis, R (2020) IoT Enabled Real-Time Monitoring System for Early-Age Compressive Strength of Concrete. Journal of Construction Engineering and Management, 146(02).

Ma, H, Zeng, S, Lin, H and Zeng, R (2020) Impact of Public Sector on Sustainability of Public–Private Partnership Projects. Journal of Construction Engineering and Management, 146(02).

Ma, X, Chan, A P C, Li, Y, Zhang, B and Xiong, F (2020) Critical Strategies for Enhancing BIM Implementation in AEC Projects: Perspectives from Chinese Practitioners. Journal of Construction Engineering and Management, 146(02).

Milberg, C T and Tommelein, I D (2020) Methods for Managing Tolerance Compatibility: Windows in Cast-in-Place Concrete. Journal of Construction Engineering and Management, 146(02).

Sharma, V, Caldas, C H and Mulva, S P (2020) Identification and Prioritization of Factors Affecting the Overall Project Cost of Healthcare Facilities. Journal of Construction Engineering and Management, 146(02).

Sherratt, F and Leicht, R (2020) Unpacking Ontological Perspectives in CEM Research: Everything Is Biased. Journal of Construction Engineering and Management, 146(02).

Swei, O (2020) Forecasting Infidelity: Why Current Methods for Predicting Costs Miss the Mark. Journal of Construction Engineering and Management, 146(02).

Syed, A and Sonparote, R S (2020) Development and Early-Age Performance of an Innovative Prestressed Precast Concrete Pavement. Journal of Construction Engineering and Management, 146(02).

Trinh, M T and Feng, Y (2020) Impact of Project Complexity on Construction Safety Performance: Moderating Role of Resilient Safety Culture. Journal of Construction Engineering and Management, 146(02).

Zhou, M, Liu, Y, Wang, K and Fahmi Hassanein, M (2020) New Asynchronous-Pouring Rapid-Construction Method for Long-Span Prestressed Concrete Box Girder Bridges with Corrugated Steel Webs. Journal of Construction Engineering and Management, 146(02).

Zuluaga, C M, Albert, A and Winkel, M A (2020) Improving Safety, Efficiency, and Productivity: Evaluation of Fall Protection Systems for Bridge Work Using Wearable Technology and Utility Analysis. Journal of Construction Engineering and Management, 146(02).