Dou, Y; Sun, X; Ji, A; Wang, Y and Xue, X (2023) Development strategy for prefabricated construction projects: A tripartite evolutionary game based on prospect theory. Engineering, Construction and Architectural Management, 30(1), pp. 105-124. ISSN 0969-9988
Abstract
Purpose: Owing to multiple superiorities to traditional counterparts, prefabricated construction (PC) has gained increasing attention worldwide. The development of PC projects reflects the effects of both policy supervision and PC practice, which aids the government in reasonably identifying the key issues of PC's promotion and rationally improving the policy deployment. However, existing studies fail to address this aspect, especially lacking quantitative exploration. This study explores the micro mechanism of PC's promotion, from the perspective of developing PC projects. Design/methodology/approach: A tripartite evolutionary game model based on prospect theory of the government, developers and contractors is constructed. After rigorous theoretical deduction, this study adopts Changchun in China as a case city and collects the data using the Delphi technique, policy documents and literature analysis. Findings: Results indicate that contractors are generally willing to implement PC projects and the government chooses to actively supervise PC's promotion. The negative investment behavior of developers is the main obstacle to promote PC in Changchun currently. Practical implications: The conclusions are applicable to other comparable regions. This study is of value to promote PC with high efficiency and effect. Originality/value: The tripartite evolutionary game model based on prospect theory proposed in this study is conducive to reveal the essence of PC's promotion. This is an important breakthrough in extant studies, with a broad applicability in the PC domain beyond China.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | case study; development strategy; prefabricated construction; prospect theory; tripartite evolutionary game |
| Index terms: | strategy, exploration, methodology, construction project, documents, Delphi technique, China, prospect theory, efficiency, case study, promotion, evolutionary game, supervision |
| Subjects: | economic theory, research methods, performance management, management, professional development, production management, Geography, environmental resource management, economic analysis, data collection methods, control systems |
| Topics: | Sustainability, Business Strategy, Information Management, Project Management, Geographical Context, Research Practice, Human Resources, Quality Management |
| Descriptive scope: | 5 PCTEA |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here