Scenarios of Applying of Game Theory in Development Projects of Underground Construction. (2016)

• Record Type: Journal Article
• Authors: Kurakova, Oksana; Khomyak, Nickolay
• Is Part Of: Procedia engineering. Volume 165(2016)
• Page Start: 1221
• Page End: 1228
• Publication Date: 2016
• Subjects: development projects -- underground building -- investor -- mathematic modeling -- financing -- strategy.; Engineering -- Congresses; Engineering -- Periodicals; Engineering; Conference proceedings; Periodicals; 620.005
• DOI: 10.1016/j.proeng.2016.11.843
• Languages: English
• ISSNs: 1877-7058

Abstract

Abstract: The present situation of crisis in the economic of Russian Federation made impossible further realization of widespread investment building projects based on originally credits and made the most important to find new strategies of surviving and development of construction which are adequate to the modern realms of building market. Any project of underground construction may be looked like huge investment development project depended on the logic of its realization. Building of optimal strategy of project should be started with assumption that nobody can create their strategy acts of others mates of a project. With the game theory developer takes the opportunity to predict steps of his mates and opponents. The hard instrumentary should be used only in the case of very important strategy decisions. The mathematic modelizing is very useful instrument of solving problems of management of investment building project. The most simple optimizing and game theory models which sets the available directions searches in this space was described in this work. The ecomic-mathematical model lets to find optimal prices of real estate according to opportunities of paying their bills at the level of single development company, also the optimal financial strategy in the situation of economic crisis. Game theory models in common form describes opponents relationships between development companies and game theory models in a form of characteristic functions describes cooperation relationship between developments, as union of resources, merger, and absorption. Ierarchic game models represent the relationship between developments and banks (investors) or developers and providers and of course serve as a foundation for management of stable development of investment building complex of a region.