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Development strategy for prefabricated construction projects: a tripartite evolutionary game based on prospect theory

Yudan Dou (Department of Construction Management, Dalian University of Technology, Dalian, China)
Xiliang Sun (School of Management, Harbin Institute of Technology, Harbin, China)
Ankang Ji (School of Management, Harbin Institute of Technology, Harbin, China)
Yuna Wang (School of Management, Guangzhou University, Guangzhou, China)
Xiaolong Xue (School of Management, Guangzhou University, Guangzhou, China)

Engineering, Construction and Architectural Management

ISSN: 0969-9988

Article publication date: 17 November 2021

Issue publication date: 27 February 2023

572

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.

Keywords

Acknowledgements

This research was supported by the National Social Science Fund of China (NO. 18ZDA043, NO.19VDL001). The work described in this paper was also funded by the National Natural Science Foundation of China (NSFC) (NO. 72101044, NO. 71671053, NO. 71801119, NO. 72071027) and the Guangdong Science and Technology Program (NO. 2019B101001019), the Fundamental Research Funds for the Central Universities (NO. DUT20RC(3)092).

Citation

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, Vol. 30 No. 1, pp. 105-124. https://doi.org/10.1108/ECAM-05-2021-0455

Publisher

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Emerald Publishing Limited

Copyright © 2021, Emerald Publishing Limited

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