title: |
Bargaining Strategies for Construction Joint Ventures by Fuzzy Logic |
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publication: |
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part of series: |
Advances in Intelligent Systems Research | |
ISBN: |
978-90-78677-01-7 | |
ISSN: |
1951-6851 | |
DOI: |
doi:10.2991/jcis.2006.287 (how to use a DOI) | |
author(s): |
Min-Ren Yan, Chien-Liang Lin, Wei Lo |
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corresponding author: |
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publication date: |
October 2006 |
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keywords: |
bargaining, negotiation, joint venture, fuzzy logic |
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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. |
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copyright: |
©
Atlantis Press. This article is distributed under the
terms of the Creative Commons Attribution License, which permits
non-commercial use, distribution and reproduction in any medium,
provided the original work is properly cited. |
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full text: |