Bargaining Strategies for Construction Joint Ventures by Fuzzy Logic

DOI

10.2991/jcis.2006.287How to use a DOI?

Keywords

bargaining, negotiation, joint venture, fuzzy logic

Abstract

As the modern construction market and environment encounter drastic changes, a single company alone can no longer manage a complex project and satisfy project owner’s needs. Joint venture (JV) of companies, formed to integrate various expertises, becomes a necessity to obtain competitive advantages to ensure survival in the fiercely competitive market. While two profit-oriented companies intend to form a JV for a particular project, it is relatively easy to divide the work scope by each party’s specialties, yet to reach an agreement on the sharing of rewards is always a challenge. This research developed a sequential bargaining model with fuzzy logic for JV parties to estimate acceptable prices of both parties. The research results can assist JV companies to select their bargaining strategy in a systematic and rational manner.

Copyright

© 2006, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

Download article (PDF)

TY  - CONF
AU  - Min-Ren Yan
AU  - Chien-Liang Lin
AU  - Wei Lo
PY  - 2006/10
DA  - 2006/10
TI  - Bargaining Strategies for Construction Joint Ventures by Fuzzy Logic
BT  - Proceedings of the 9th Joint International Conference on Information Sciences (JCIS-06)
PB  - Atlantis Press
SN  - 1951-6851
UR  - https://doi.org/10.2991/jcis.2006.287
DO  - 10.2991/jcis.2006.287
ID  - Yan2006/10
ER  -