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      Complexity Analysis of Prefabrication Contractors’ Dynamic Price Competition in Mega Projects with Different Competition Strategies

      1 , 1 , 2 , 1 , 3 , 4
      Complexity
      Hindawi Limited

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          Abstract

          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.

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          Most cited references26

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          Learning from competing partners: outcomes and durations of scale and link alliances in Europe, North America and Asia

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            Major Barriers to Off-Site Construction: The Developer’s Perspective in China

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              Critical review of the research on the management of prefabricated construction

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                Author and article information

                Journal
                Complexity
                Complexity
                Hindawi Limited
                1076-2787
                1099-0526
                September 03 2018
                September 03 2018
                : 2018
                : 1-9
                Affiliations
                [1 ]School of Management and Engineering, Nanjing University, Nanjing 210093, China
                [2 ]School of Design and the Built Environment, Curtin University, Perth, Australia
                [3 ]School of Mathematical Sciences, Chongqing Normal University, Chongqing, 400700, China
                [4 ]Department of Housing and Interior Design, Kyung Hee University, Seoul, Republic of Korea
                Article
                10.1155/2018/5928235
                57392af8-f0b8-46ab-8bea-3649a1ff95be
                © 2018

                http://creativecommons.org/licenses/by/4.0/

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