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Abd Jamil, A H and Fathi, M S (2020) Enhancing BIM-Based Information Interoperability: Dispute Resolution from Legal and Contractual Perspectives. Journal of Construction Engineering and Management, 146(07).

Abdul Nabi, M, El-adaway, I H, Fayek, S, Howell, C and Gambatese, J (2020) Contractual Guidelines for Construction Safety–Related Issues under Design–Build Standard Forms of Contract. Journal of Construction Engineering and Management, 146(07).

Antwi-Afari, M F, Li, H, Umer, W, Yu, Y and Xing, X (2020) Construction Activity Recognition and Ergonomic Risk Assessment Using a Wearable Insole Pressure System. Journal of Construction Engineering and Management, 146(07).

Davila Delgado, J M, Oyedele, L, Beach, T and Demian, P (2020) Augmented and Virtual Reality in Construction: Drivers and Limitations for Industry Adoption. Journal of Construction Engineering and Management, 146(07).

Elshaboury, N, Attia, T and Marzouk, M (2020) Application of Evolutionary Optimization Algorithms for Rehabilitation of Water Distribution Networks. Journal of Construction Engineering and Management, 146(07).

Fayek, A R (2020) Fuzzy Logic and Fuzzy Hybrid Techniques for Construction Engineering and Management. Journal of Construction Engineering and Management, 146(07).

Garcia, A J and Mollaoglu, S (2020) Measuring Key Knowledge-Related Factors for Individuals in AEC Project Teams. Journal of Construction Engineering and Management, 146(07).

Gholizadeh, P and Esmaeili, B (2020) Cost of Occupational Incidents for Electrical Contractors: Comparison Using Robust-Factorial Analysis of Variance. Journal of Construction Engineering and Management, 146(07).

Han, Y, Li, J, Cao, X and Jin, R (2020) Structural Equation Modeling Approach to Studying the Relationships among Safety Investment, Construction Employees’ Safety Cognition, and Behavioral Performance. Journal of Construction Engineering and Management, 146(07).

Hosseinian, S M, Farahpour, E and Carmichael, D G (2020) Optimum Outcome-Sharing Construction Contracts with Multiagent and Multioutcome Arrangements. Journal of Construction Engineering and Management, 146(07).

  • Type: Journal Article
  • Keywords: Incentive contracts; Optimization; Cooperation; Multiple arrangements;
  • ISBN/ISSN: 0733-9364
  • URL: https://doi.org/10.1061/(ASCE)CO.1943-7862.0001862
  • Abstract:
    Incentive contracts are widely used in construction to not only provide motivation but also to develop a cooperative relationship among project players. However, establishing the best outcome sharing is seen as a challenge to those involved in contracts design. Although the optimization of incentive contracts has been approached by a number of researchers, there is no guidance on optimum incentive contracts with multiagent/multioutcome arrangements. This paper develops the optimum multiagent/multioutcome sharing model in incentive contracts with a risk-neutral owner and risk-averse agents (contractors, consultants). Optimization, principal–agent theory, and utility theory provide the basis for the development. The application of the model is addressed in different scenarios. The paper demonstrates that adopting optimum effort by agents is an effective strategy that avoids project time overruns and also gives maximum savings to all contracting parties. It is shown that: at the optimum, outcome (time, cost, quality, and safety) sharing is positively related to an agent’s contribution and negatively related to the agent’s effort cost; as the correlation of the outcomes or the level of agent risk aversion increases, agents prefer low outcome sharing; and outcome variances and outcome sharing are related negatively which means that high outcome variances result in low outcome sharing. The contribution of this study lies in providing insights into designing optimum incentive contracts with multiagent/multioutcome arrangements.

Karimi, H and Taghaddos, H (2020) Impact of Age on the Strength of Experience and Education Role in Fatal Injuries Prevention in Iranian Construction Craft Workers. Journal of Construction Engineering and Management, 146(07).

Kiomjian, D, Srour, I and Srour, F J (2020) Knowledge Sharing and Productivity Improvement: An Agent-Based Modeling Approach. Journal of Construction Engineering and Management, 146(07).

Martinez, P, Livojevic, M, Jajal, P, Aldrich, D R, Al-Hussein, M and Ahmad, R (2020) Simulation-Driven Design of Wood Framing Support Systems for Off-Site Construction Machinery. Journal of Construction Engineering and Management, 146(07).

Minooei, F, Goodrum, P M and Taylor, T R B (2020) Young Talent Motivations to Pursue Craft Careers in Construction: The Theory of Planned Behavior. Journal of Construction Engineering and Management, 146(07).

Soman, R K and Whyte, J K (2020) Codification Challenges for Data Science in Construction. Journal of Construction Engineering and Management, 146(07).

Sun, C, Ahn, S and Ahn, C R (2020) Identifying Workers’ Safety Behavior–Related Personality by Sensing. Journal of Construction Engineering and Management, 146(07).

Toland, M D, Bowen, P and Dueber, D M (2020) Multidimensional Item Response Theory Analysis of Work-Related, After-Hours Contact, and Psychosocial Measurement Scales for Construction Professionals. Journal of Construction Engineering and Management, 146(07).

Wang, Q, Zuo, W, Guo, Z, Li, Q, Mei, T and Qiao, S (2020) BIM Voxelization Method Supporting Cell-Based Creation of a Path-Planning Environment. Journal of Construction Engineering and Management, 146(07).

Wibowo, A and Sundermeier, M (2020) Developing a Fuzzy Value-for-Money Analysis Model for Annuity-Based Public-Private Partnership Infrastructure Projects under Consideration of Risk Mitigation Capability. Journal of Construction Engineering and Management, 146(07).

Yang, X, Yu, M and Zhu, F (2020) Impact of Project Planning on Knowledge Integration in Construction Projects. Journal of Construction Engineering and Management, 146(07).

Zhang, L, Yuan, J, Xia, N, Bouferguene, A and Al-Hussein, M (2020) Improving Information Sharing in Major Construction Projects through OC and POC: RDT Perspective. Journal of Construction Engineering and Management, 146(07).

Zhang, X, Zhang, W, Jiang, L and Zhao, T (2020) Identification of Critical Causes of Tower-Crane Accidents through System Thinking and Case Analysis. Journal of Construction Engineering and Management, 146(07).