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Complexity Analysis of Prefabrication Contractors’ Dynamic Price Competition in Mega Projects with Different Competition Strategies
Joint Authors
Wang, Xiangyu
Zhu, Jianbo
Shi, Qianqian
Wu, Peng
Sheng, Zhaohan
Source
Issue
Vol. 2018, Issue 2018 (31 Dec. 2018), pp.1-9, 9 p.
Publisher
Hindawi Publishing Corporation
Publication Date
2018-09-03
Country of Publication
Egypt
No. of Pages
9
Main Subjects
Abstract EN
This paper considers a repeated duopoly game of prefabrication contractors in mega infrastructure projects and assumes the contractors exhibit bounded rationality.
Based on the theory of bifurcation of dynamical systems, a dynamic price competition model is constructed considering different competition strategies.
Accordingly, the stability of the equilibrium point of the system is discussed considering different initial market capacities, and numerical simulation is performed.
The results show the system has a unique equilibrium solution when initial capacity is high and the parameters meet certain conditions.
The contractors’ price adjustment strategy has an important influence on system stability.
However, an overly aggressive competition strategy is not conducive to system stability.
Moreover, the system is sensitive to initial parameter values.
American Psychological Association (APA)
Zhu, Jianbo& Shi, Qianqian& Wu, Peng& Sheng, Zhaohan& Wang, Xiangyu. 2018. Complexity Analysis of Prefabrication Contractors’ Dynamic Price Competition in Mega Projects with Different Competition Strategies. Complexity،Vol. 2018, no. 2018, pp.1-9.
https://search.emarefa.net/detail/BIM-1134875
Modern Language Association (MLA)
Zhu, Jianbo…[et al.]. Complexity Analysis of Prefabrication Contractors’ Dynamic Price Competition in Mega Projects with Different Competition Strategies. Complexity No. 2018 (2018), pp.1-9.
https://search.emarefa.net/detail/BIM-1134875
American Medical Association (AMA)
Zhu, Jianbo& Shi, Qianqian& Wu, Peng& Sheng, Zhaohan& Wang, Xiangyu. Complexity Analysis of Prefabrication Contractors’ Dynamic Price Competition in Mega Projects with Different Competition Strategies. Complexity. 2018. Vol. 2018, no. 2018, pp.1-9.
https://search.emarefa.net/detail/BIM-1134875
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references
Record ID
BIM-1134875