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Article: Regulative measures addressing payment problems in the construction industry: A calculative understanding of their potential outcomes based on gametric models

TitleRegulative measures addressing payment problems in the construction industry: A calculative understanding of their potential outcomes based on gametric models
Authors
KeywordsConstruction Industry
Contractors
Costs
Game Theory
Measurement
Models
Opportunism
Payment
Payment Arrears
Regulative Measures
Transaction Cost
Issue Date2011
PublisherAmerican Society of Civil Engineers. The Journal's web site is located at http://www.pubs.asce.org/journals/co.html
Citation
Journal Of Construction Engineering And Management, 2011, v. 137 n. 8, p. 566-573 How to Cite?
AbstractPayment default is a common complaint from contractors in the construction industry. Many regulative measures have been adopted in different jurisdictions to address such payment problems. Current research primarily takes an interpretative approach for conducting semantic analysis of these measures, reporting their applications, and comparing their implementation outcomes. This paper presents a comprehensive theoretical understanding of these issues, their sources/roots, and related measurements, and addresses them through gametric models. Working elements of regulative measures are demarcated as punishment of opportunistic payers, remedies for unpaid payees, and costs to parties in referring to remedies and realizing justice. Empirical evidence from an international literature review of protection measures and experiences of addressing payment arrears and from a survey in mainland China is provided to support the models. This framework is useful to researchers and professionals in complementing the current descriptive approach in investigating and understanding regulative measures that address payment problems. This understanding is also useful for lawmakers to accompany the current path-dependent approach in introducing and amending payment protection legislation, i.e., referring to similar measures in other jurisdictions where a mutual legislative origin is shared. © 2011 American Society of Civil Engineers.
Persistent Identifierhttp://hdl.handle.net/10722/150587
ISSN
2015 Impact Factor: 1.152
2015 SCImago Journal Rankings: 1.219
ISI Accession Number ID
References

 

DC FieldValueLanguage
dc.contributor.authorWu, Jen_US
dc.contributor.authorKumaraswamy, MMen_US
dc.contributor.authorSoo, Gen_US
dc.date.accessioned2012-06-26T06:05:56Z-
dc.date.available2012-06-26T06:05:56Z-
dc.date.issued2011en_US
dc.identifier.citationJournal Of Construction Engineering And Management, 2011, v. 137 n. 8, p. 566-573en_US
dc.identifier.issn0733-9364en_US
dc.identifier.urihttp://hdl.handle.net/10722/150587-
dc.description.abstractPayment default is a common complaint from contractors in the construction industry. Many regulative measures have been adopted in different jurisdictions to address such payment problems. Current research primarily takes an interpretative approach for conducting semantic analysis of these measures, reporting their applications, and comparing their implementation outcomes. This paper presents a comprehensive theoretical understanding of these issues, their sources/roots, and related measurements, and addresses them through gametric models. Working elements of regulative measures are demarcated as punishment of opportunistic payers, remedies for unpaid payees, and costs to parties in referring to remedies and realizing justice. Empirical evidence from an international literature review of protection measures and experiences of addressing payment arrears and from a survey in mainland China is provided to support the models. This framework is useful to researchers and professionals in complementing the current descriptive approach in investigating and understanding regulative measures that address payment problems. This understanding is also useful for lawmakers to accompany the current path-dependent approach in introducing and amending payment protection legislation, i.e., referring to similar measures in other jurisdictions where a mutual legislative origin is shared. © 2011 American Society of Civil Engineers.en_US
dc.languageengen_US
dc.publisherAmerican Society of Civil Engineers. The Journal's web site is located at http://www.pubs.asce.org/journals/co.htmlen_US
dc.relation.ispartofJournal of Construction Engineering and Managementen_US
dc.subjectConstruction Industryen_US
dc.subjectContractorsen_US
dc.subjectCostsen_US
dc.subjectGame Theoryen_US
dc.subjectMeasurementen_US
dc.subjectModelsen_US
dc.subjectOpportunismen_US
dc.subjectPaymenten_US
dc.subjectPayment Arrearsen_US
dc.subjectRegulative Measuresen_US
dc.subjectTransaction Costen_US
dc.titleRegulative measures addressing payment problems in the construction industry: A calculative understanding of their potential outcomes based on gametric modelsen_US
dc.typeArticleen_US
dc.identifier.emailKumaraswamy, MM:mohan@hkucc.hku.hken_US
dc.identifier.authorityKumaraswamy, MM=rp00126en_US
dc.description.naturelink_to_subscribed_fulltexten_US
dc.identifier.doi10.1061/(ASCE)CO.1943-7862.0000336en_US
dc.identifier.scopuseid_2-s2.0-80051743886en_US
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-80051743886&selection=ref&src=s&origin=recordpageen_US
dc.identifier.volume137en_US
dc.identifier.issue8en_US
dc.identifier.spage566en_US
dc.identifier.epage573en_US
dc.identifier.isiWOS:000293526500002-
dc.publisher.placeUnited Statesen_US
dc.identifier.scopusauthoridWu, J=25123277000en_US
dc.identifier.scopusauthoridKumaraswamy, MM=35566270600en_US
dc.identifier.scopusauthoridSoo, G=25123211600en_US

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