Expertise-based bid evaluation for construction-contractor selection with generalized comparative linguistic ELECTRE III

Chen, Zhen‐Song; Zhang, Xuan; Rodríguez, Rosa M.; Pedrycz, Witold; Martínez, Luis

doi:10.1016/j.autcon.2021.103578

Cited by 126 publications

(56 citation statements)

References 72 publications

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“…Traditionally, researchers believe that the successful construction project receives the lowest bid from contractor (Topcu, 2004). Besides, new school of researchers argued with the traditional lowest price, and claimed that the method looks attractive to the client, but in the long term, it has never been a wise choice but a fundamental cause of project failure (Chen et al, 2020(Chen et al, , 2021. In addition, Awwad and Ammoury (2019) claimed that no doubt the method is most accepted, but it does not necessarily result in the project's best performance.…”

Section: Rationales In Contractor Selectionbackground and Developmentmentioning

confidence: 99%

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Embedded Remote Group Environment Through Modification in Macbeth – An Application of Contractor’s Selection in Construction

Khoso

Yusof

Chen

et al. 2021

Journal of Civil Engineering and Management

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A group decision environment has profound roots in MACBETH (Measuring Attractiveness by a Categorical Based Evaluation Technique) analysis which indeed has plentiful advantages; however, many researchers envisage the embedded group decision system as an impediment in actual implementation. The accessibility of explicit interaction of decision makers at a single platform in the form of embedded group decision environment is a great impediment to the researchers. Accordingly, this research aims to tailor a novel alternative system of dealing with the embedded group decision under a remote group decision environment via integrating MACBETH and Exploratory Factor Analysis. The study finds that an embedded remote group decision making system could serve as an alternative system of group decision making which has plentiful perks in group decision applications. This system could help researchers to carry out research without confusing in embedded group decision environment but including all decision-makers in the model. The implication of proposed system is not only limited to MACBETH; however, due to system’s versatility, a similar approach could be fruitful for other group-related environments involving collective decisions.

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Section: Rationales In Contractor Selectionbackground and Developmentmentioning

confidence: 99%

“…Contractors and their evaluation in a construction project persist a part of a continuous argument for the last three decades. A wrong choice of contractor leads to unsatisfactory project outcome with several challenges (Chen et al, 2021). Besides, the selection of contractor is a qualitative and a subjective approach .…”

Section: Introductionmentioning

confidence: 99%

Embedded Remote Group Environment Through Modification in Macbeth – An Application of Contractor’s Selection in Construction

Khoso

Yusof

Chen

et al. 2021

Journal of Civil Engineering and Management

Self Cite

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“…By the calculation of membership degree matrix, the overall score of the high-speed rail express branch is determined. Chen et al (2021) proposed an integrated subjective-objective approach to calculate criterion weights and to implement an ELECTRE III-based method that incorporates HFLTS possibility distributions, which allows us to treat the indetermination, imprecision and uncertainty embedded in appraisals of alternative-criterion decisions when evaluating bids. Mirzaee et al (2018) generalized the problem of supplier selection and order allocation with multi-period, multi-product, multisupplier, multi-objective cases as well as quantity discount subject to budget and capacity limitations for both buyers and suppliers.…”

Section: Discussionmentioning

confidence: 99%

A novel fuzzy dominant goal programming for portfolio selection with systematic risk and non-systematic risk

Deng

Yuan

2021

Soft Comput

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In this paper, we consider a fuzzy portfolio selection problem with systematic risk and non-systematic risk simultaneously. These two kinds of risks are measured by beta coefficient and random error variance obtained by Sharp Single Index Model. The total risk as the objective of portfolio decision is obtained by weighting the two kinds of risk. Among them, the weight of systematic risk is regarded as the degree of investors' attention to system risk in economic sense. In addition, the fuzzy return and the degree of diversification are measured by triangular fuzzy number and entropy, respectively. And they are also considered the goal of investment decisions. Hence, a tri-objective portfolio is proposed in this paper. For the fuzzy objectives in the model, a goal programming method based on fuzzy dominance is proposed, which can help investors better capture the ideal point of fuzzy returns according to their risk preference. Finally, combined with the systematic impact of COVID-19 on the financial market, we make an empirical analysis based on our proposed model. The results show that the total risk will be on the high side when value is too large or too small. That means paying too much or little attention to the systematic risk will lead investors to bear more risk. In addition, when investors ignore the systematic risk; that is, the value is low, and investors will concentrate their funds in the same industry.

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“…Most countries, including the US [13,14], China [15][16][17], Australia [9,18], the UK [19], and the Netherlands [12], have thus exhibited a strong ambition to thwart collusive bidding. ere are two kinds of approaches, preventive and punitive, for antitrust authorities to impose controls over the outbreak of collusive bidding [20,21]. e preventive approaches are ex ante, which entails establishing an efficient bidding system [22][23][24][25]and promoting bidders' ethical behaviors [18,26].…”

Section: Introductionmentioning

confidence: 99%

Deterrence of Punitive Measures on Collusive Bidding in the Construction Sector

Zhu

Zheng

et al. 2021

Complexity

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Collusive bidding has been a deep-seated issue in the construction market for a long time. The strategies implemented by bid riggers are deliberate, interactive, and complex, suggesting that antitrust authorities have difficulty preventing collusive behaviors. Based on game payoff matrixes, this study proposes a system dynamics (SD) model to present the deterrence of punitive measures, namely the certainty of punishment (CoP) and the severity of punishment (SoP), on regular bidders’ to-collude decision-making. Data were collected from the Chinese construction industry to test the proposed SD model. While the model was supported, the results indicate that the CoP has a greater impact than the SoP on deterring regular bidders from making to-collude decisions. Furthermore, these two punitive measures cannot be replaced by each other, given the same deterrence effects. Thus, the study demonstrates the usefulness of deterrence theory to inhibit collusive bidding in the construction sector. It also sheds some light on the formulation of competition policy from the perspective of deterrence.

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Expertise-based bid evaluation for construction-contractor selection with generalized comparative linguistic ELECTRE III

Cited by 126 publications

References 72 publications

Embedded Remote Group Environment Through Modification in Macbeth – An Application of Contractor’s Selection in Construction

Embedded Remote Group Environment Through Modification in Macbeth – An Application of Contractor’s Selection in Construction

A novel fuzzy dominant goal programming for portfolio selection with systematic risk and non-systematic risk

Deterrence of Punitive Measures on Collusive Bidding in the Construction Sector

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