Game analysis of reverse multiple attribute electronic bidding in construction markets for end users

XUE Yanguang; DENG Xiaomei; FENG Ke

doi:10.16511/j.cnki.qhdxxb.2016.25.023

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Journal of Tsinghua University(Science and Technology) ›› 2016, Vol. 56 ›› Issue (8) : 836-843. DOI: 10.16511/j.cnki.qhdxxb.2016.25.023

CONSTRUCTION MANAGEMENT

Game analysis of reverse multiple attribute electronic bidding in construction markets for end users

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Abstract

Electronic bidding platforms optimize resource allocation for the construction market and effectively prevent unfair competition. However, electronic bidding platforms for the construction market lack a response mechanism to the end users' demands, such as building quality, resulting in lower end-user satisfaction. The characteristics of the construction market, especially the demands of the end-users and the need for multi- attribute electronic bidding are incorporated into a two-stage auction model which includes an online multi-attribute reverse auction model and a bargaining game model with incomplete information and unlimited rounds. The solutions of the two stage model compared to the Bayesian Nash equilibrium strategy and the sub-game perfect Nash equilibrium. This model successfully responds to the end-user demands, reduces the total supply chain cost, and improves the construction industry supply chain competitiveness.

Key words

construction market / electronic bidding / multi-attribute auction / bargaining game / building quality

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XUE Yanguang, DENG Xiaomei, FENG Ke. Game analysis of reverse multiple attribute electronic bidding in construction markets for end users[J]. Journal of Tsinghua University(Science and Technology). 2016, 56(8): 836-843 https://doi.org/10.16511/j.cnki.qhdxxb.2016.25.023

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