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Shehadeh, A; Alshboul, O (2025) Game theory integration in construction management: A comprehensive approach to cost, risk, and coordination under uncertainty. Journal of Construction Engineering and Management, 151(5).

  • Type: Journal Article
  • Keywords: blockchain technology; game theory; production planning; shapley value
  • ISBN/ISSN: 0733-9364
  • URL: https://doi.org/10.1061/JCEMD4.COENG-15109
  • Abstract:
    This study leverages game theory to address three interrelated challenges in construction management: cost allocation for blockchain technology, risk assessment in production planning, and coordination among stakeholders under conditions of uncertainty. Utilizing cooperative game theory and the Shapley value model, the research identifies a methodologically sound approach for the economically rational allocation of development and operational costs in blockchain-based management systems. In a novel application, stochastic frontier analysis and the weighted Shapley value model predict cost savings of up to 15% under cooperative scenarios compared to noncooperative approaches. For risk evaluation in multiperiod production planning, integrating the average value at risk with the Shapley value demonstrates a 20% increase in risk mitigation efficiency over traditional methods, addressing correlated and uncertain demands without strict probability distributions. A game-theoretic model developed for coordinating a manufacturer with multiple suppliers optimizes production, inventory, and pricing, reducing costs by 18% and inventory misalignments by 25% under demand uncertainty and asymmetric information. These findings underscore the practical utility of game-theoretic models in enhancing decision-making processes in the evolving construction management landscape, providing theoretical insights and empirical validations for cost-efficient, resilient, and effectively coordinated construction management practices.