Game Theory Framework for Mitigating the Cost Pendulum in Public Construction Projects
The coexistence of the winner’s curse and cost overruns in the construction industry implies a cost pendulum in which the winning bid is undervalued, whereas the final payment to the contractor is overvalued. We posit that this results from a strategic interaction between three stakeholders: the pub...
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| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
MDPI AG
2025-03-01
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| Series: | Games |
| Subjects: | |
| Online Access: | https://www.mdpi.com/2073-4336/16/2/11 |
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