On Modelling Negotiations within a Dynamic Multi-objective Programming Framework: Analysis of Risk Measurement with an Application to Large BOT Projects

Cheng-Min Feng, Chao-Chung Kang and Haider Khan ()
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Cheng-Min Feng: Instituteof Traffic and Transportation, National Chiao Tung University
Chao-Chung Kang: Instituteof Traffic and Transportation, National Chiao Tung University

No CIRJE-F-161, CIRJE F-Series from CIRJE, Faculty of Economics, University of Tokyo

Abstract: The dynamic and multi-objective programming is used here to establish a risk measurement model. We develop an iterative algorithm and the convergence conditions for the model solution. The results obtained from the model developed here show that the sum of the interactive utility value (IUV) could determine whether or not the interactive relationship is characterized by independence among negotiators. In addition, the numerical example shows that this risk measurement model of the negotiation group can reflect risk assessment by the negotiation group for certain events and can analyze interaction characteristics among negotiators. We show the feasibility and applicability of the model and the exact solution algorithm, and their policy relevance for analyzing BOT projects.

Pages: 32 pages
Date: 2002-07
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Persistent link: https://EconPapers.repec.org/RePEc:tky:fseres:2002cf161

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