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Sustainability 2015, 7(11), 15423-15448; doi:10.3390/su71115423

Project-Based Market Competition and Policy Implications for Sustainable Developments in Building and Construction Sectors

Department of International Business Administration, Chinese Culture University, No. 231, Sec. 2, Jian-guo S. Rd., Da-an Dist., 106 Taipei City, Taiwan
Academic Editor: Yongrok Choi
Received: 16 October 2015 / Revised: 12 November 2015 / Accepted: 13 November 2015 / Published: 20 November 2015
(This article belongs to the Section Economic, Business and Management Aspects of Sustainability)
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Abstract

Building and construction sectors are significant contributors to the global economy, but their energy consumption necessitates greater commitment to sustainable developments. There is therefore a growing demand for green innovation in the form of cleaner production and policies to meet the modern requirements of sustainability. However, the nature in which public work is undertaken is in an environment of project-based market competition, whereby contractors routinely bid for contracts under specific project awarding systems, and variations are accompanied with the unique scope of individual projects before the final goods or services are delivered. A comprehensive understanding of the characteristics and contractors’ behavior in systems could help to identify the leverage points of policies. This paper proposes a system dynamics model, with quantitative analysis and simulations, to demonstrate the problems of a system with different project awarding systems and ineffective market performance. The framework of market efficiency and performance measures has been proposed to evaluate the project-based competition mechanism. Managerial policy implications for market efficiency and sustainable developments can thus be systematically discussed and compared through iterative computer simulations and scenario analysis. View Full-Text
Keywords: project awarding; procurement; opportunistic bidding; contractor selection; competition; system dynamics; sustainability; sustainable development; policy project awarding; procurement; opportunistic bidding; contractor selection; competition; system dynamics; sustainability; sustainable development; policy
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. (CC BY 4.0).

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MDPI and ACS Style

Yan, M.-R. Project-Based Market Competition and Policy Implications for Sustainable Developments in Building and Construction Sectors. Sustainability 2015, 7, 15423-15448.

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