| Autore |
Brockmann Christian <1954->
|
| Pubbl/distr/stampa |
Hoboken, NJ : , : John Wiley & Sons, Inc., , [2023]
|
| Descrizione fisica |
1 online resource (413 pages)
|
| Disciplina |
692/.8
|
| Soggetto topico |
Contractors' operations
Construction industry - Economic aspects
|
| ISBN |
1-119-83193-8
1-119-83191-1
|
| Formato |
Materiale a stampa  |
| Livello bibliografico |
Monografia |
| Lingua di pubblicazione |
eng
|
| Nota di contenuto |
Cover -- Title Page -- Copyright Page -- Brief Contents -- Contents -- Foreword by Gerard de Valence -- Preface -- Chapter 1 Introduction -- 1.1 Navigating the Maze of Economic Literature -- 1.1.1 Economics -- 1.1.2 Microeconomics -- 1.1.3 Macroeconomics -- 1.1.4 Construction Economics -- 1.2 Tools and Presentations -- 1.2.1 Definitions -- 1.2.2 Economic Scholars -- 1.2.3 Assumptions -- 1.2.4 Case Studies -- 1.2.5 Observations -- 1.2.6 Summaries -- 1.3 Methodological Approach -- 1.3.1 Laws and Regularities -- 1.3.2 Focus and Goals -- 1.3.3 Descriptive and Normative Economics -- 1.4 Theoretical Background -- 1.4.1 Industrial Organization -- 1.4.2 New Institutional Economics -- 1.4.3 Game Theory -- 1.4.4 Auction Theory -- 1.4.5 Behavioral Economics -- 1.4.6 Economics of Information -- 1.4.7 Law and Economics -- 1.5 What You Can and Cannot Expect -- 1.6 Audience -- 1.6.1 Students -- 1.6.2 Lecturers -- 1.6.3 Academics -- 1.6.4 Contractors -- 1.6.5 Owners -- 1.6.6 Policymakers -- 1.7 Structure of the Text -- 1.7.1 Basic Economic Principles -- 1.7.2 Consumers in Perfectly Competitive Markets -- 1.7.3 Producers in Perfectly Competitive Markets -- 1.7.4 Interaction in Perfectly Competitive Markets -- 1.7.5 Imperfect Markets -- 1.7.6 Factor Markets -- 1.7.7 Information, Risk, and Uncertainty -- 1.7.8 Game Theory and Auctions -- 1.7.9 Construction Sector -- 1.7.10 Theory of the Owner -- 1.7.11 Theory of the Contractor -- 1.7.12 Construction Goods -- 1.7.13 Construction Markets -- 1.7.14 Contracting -- 1.7.15 Market Imperfections -- 1.7.16 Government -- 1.7.17 Public Construction Goods -- 1.7.18 Conclusion -- 1.7.19 Synopsis -- References -- Part I Microeconomics -- Chapter 2 Basic Economic Principles -- 2.1 Consensual Ideas -- 2.2 Scarcity and Choice -- 2.3 Decision-Making -- 2.3.1 Opportunity Costs -- 2.3.2 Incentives -- 2.3.3 Marginal Decisions.
2.4 Markets -- 2.5 Trade and Comparative Advantage -- 2.6 Government -- References -- Chapter 3 Consumers in Perfectly Competitive Markets -- 3.1 Perfectly Competitive Markets -- 3.2 Consumer Behavior -- 3.2.1 Budget Constraint -- 3.2.2 Preferences and Utility Functions -- 3.2.3 Utility Maximization -- 3.3 Demand Curve -- 3.4 Further Reading -- References -- Chapter 4 Producers in Perfectly Competitive Markets -- 4.1 Producer Behavior -- 4.2 Production Theory -- 4.2.1 Technology -- 4.2.2 Production Functions -- 4.2.2.1 Classical Production Function -- 4.2.2.2 Neoclassical Production Function -- 4.2.2.3 Limitational Production Function -- 4.2.2.4 Technological Change (Innovation) and Learning -- 4.3 Cost Theory -- 4.3.1 Cost Curves for Classical Production Functions -- 4.3.2 Cost Curves for Neoclassical Production Functions -- 4.3.3 Cost Curves for Limitational Production Functions -- 4.3.4 Simplified Cost Function with Constantly Increasing Variable Costs -- 4.3.5 Long-Run Cost Curves -- 4.4 Supply Curve -- 4.4.1 Short-Run Supply Curve of a Firm -- 4.4.2 Long-Run Supply Curve of a Firm -- 4.4.3 Market Supply Curve -- References -- Chapter 5 Interaction in Perfectly Competitive Markets -- 5.1 Equilibrium Price and Quantity -- 5.2 Comparative Statics -- 5.3 Elasticities of Demand and Supply -- 5.4 Consumer and Producer Surplus -- 5.5 Time-Dependent Supply Curves and Market Outcomes -- 5.5.1 Very-Short-Run Supply Curve -- 5.5.2 Short-Run Supply Curve -- 5.5.3 Long-Run Supply Curve -- 5.6 Welfare -- 5.7 Efficiency and Equity -- References -- Chapter 6 Imperfect Markets -- 6.1 Monopoly -- 6.1.1 Normal Monopolies -- 6.1.2 Natural Monopolies -- 6.2 Monopolistic Competition -- 6.3 Monopsony -- 6.4 Oligopoly -- References -- Chapter 7 Factor Markets -- 7.1 Factor Supply of Households -- 7.1.1 Labor Supply -- 7.1.2 Capital Supply -- 7.2 Factor Demand of Firms.
7.3 Demand and Supply on Factor Markets -- References -- Chapter 8 Uncertainty, Risk, and Information -- 8.1 Uncertainty and Risk -- 8.1.1 Risk Attitudes -- 8.1.2 Risk Strategies -- 8.1.3 Transaction Cost Theory -- 8.2 Information -- 8.2.1 Satisficing Model of Decision-Making -- 8.2.2 Asymmetric Information -- 8.2.2.1 Principal-Agent Theory -- 8.2.2.2 Market Breakdown Due to Asymmetric Information -- 8.2.2.3 Hidden Characteristics and Adverse Selection -- 8.2.2.4 Hidden Intentions and Holdup -- 8.2.2.5 Hidden Action and Moral Hazard -- 8.2.3 Property Rights Theory -- References -- Chapter 9 Game Theory and Auctions -- 9.1 Game Theory -- 9.1.1 Basics of Game Theory -- 9.1.2 Static Games with Complete Information -- 9.1.3 Dynamic Games with Complete Information -- 9.2 Auctions -- 9.2.1 Basics of Auctions -- 9.2.2 English and Vickrey Auctions -- 9.2.3 Dutch Auctions and Sealed-Bid Auctions -- 9.2.4 Competitive Bidding -- References -- Part II Applied Construction Microeconomics -- Chapter 10 Construction Sector -- 10.1 Definition -- 10.2 Economic Contribution -- 10.2.1 Value-Added Concept -- 10.2.2 Investment Concept -- 10.2.3 Multiplier Concept -- 10.3 Actors in the Construction Sector -- 10.3.1 Market Demand -- 10.3.2 Market Supply -- 10.4 Summary of the Construction Sector -- References -- Chapter 11 Theory of the Owner -- 11.1 The Owner as an Entity -- 11.1.1 Terminology -- 11.1.2 Images and Prejudices -- 11.1.3 Organization -- 11.2 Tasks of the Owner -- 11.3 Behavior of the Owner -- 11.3.1 Consumers Buying Construction Goods -- 11.3.2 Producers Buying Construction Goods -- 11.4 Information of the Owner -- 11.5 Developing a Contract -- 11.6 Procurement of a Contractor -- 11.7 Supervision of the Construction Process -- 11.8 Summary -- References -- Chapter 12 Theory of the Contractor -- 12.1 The Contractor as an Entity -- 12.1.1 Cooperation.
12.1.2 Organization -- 12.2 Tasks of the Contractor -- 12.3 Behavior of the Contractor -- 12.3.1 Strategy -- 12.3.2 Legal Organization -- 12.3.3 Growth of the Firm -- 12.4 Information of the Contractor -- 12.5 Bidding -- 12.6 Contractor Pricing -- 12.7 Production -- 12.7.1 General Characteristics -- 12.7.2 Production Determinants -- 12.7.2.1 Production Line, Work Shop, Site Construction, Parallel, or Variable Production -- 12.7.2.2 Automatization -- 12.7.2.3 Mass or Single-Item Production -- 12.7.2.4 Continuous and Discontinuous Production -- 12.7.2.5 Summary of Production Types -- 12.7.3 Production Functions and Cost Curves -- 12.7.4 Production Decisions -- 12.8 Summary -- References -- Chapter 13 Construction Goods -- 13.1 Goods and Services -- 13.1.1 Heterogeneity -- 13.1.2 Construction Goods as Transitional Performance Bundles -- 13.1.3 Construction Goods as Contract Goods -- 13.1.4 Construction Goods as Investment -- 13.1.5 Construction Goods as Services -- 13.1.6 Summary of the Characteristics of Construction Goods -- 13.2 Typology of Construction Goods -- 13.2.1 Approach to Developing a Typology -- 13.2.2 Conceptualization -- 13.2.2.1 Choice of Dimensions -- 13.2.2.2 Typical Cases -- 13.2.2.3 Typology -- 13.2.3 Applications -- 13.2.3.1 Market Entry -- 13.2.3.2 Optimum Firm Size -- 13.2.3.3 Strategic Planning -- 13.3 Summary -- References -- Chapter 14 Construction Markets -- 14.1 Characteristics of Markets -- 14.2 Particularities of Construction Markets -- 14.2.1 Goods -- 14.2.2 Owners -- 14.2.3 Markets -- 14.2.4 Summary -- 14.3 Analysis of Construction Markets -- 14.3.1 Heterogeneity -- 14.3.1.1 Observation -- 14.3.1.2 Theory -- 14.3.1.3 Organization -- 14.3.1.4 Structure -- 14.3.1.5 Specialization -- 14.3.1.6 Law -- 14.4 Owners -- 14.5 Contractors -- 14.5.1 Supply -- 14.5.2 Information -- 14.6 Geography of Construction Markets.
14.6.1 Regional Markets -- 14.6.2 National Markets -- 14.6.3 International Markets -- 14.6.4 Multinational Markets -- 14.6.5 Global Players and Global Markets -- 14.7 Entry and Exit Barriers -- 14.7.1 Effects of the Business Cycle -- 14.7.2 Number of Exits and Entries -- 14.8 Summary -- References -- Chapter 15 Contracting -- 15.1 Construction Goods -- 15.2 Construction Markets -- 15.3 Owner's Demand -- 15.4 Contractor's Supply -- 15.5 Construction Contracts -- 15.6 Contracting Market Design -- 15.7 Pricing of Construction Contracts -- 15.7.1 Marginal Cost Decisions Versus Markup Pricing -- 15.7.2 Auctioning -- 15.7.2.1 Construction Goods and Auctions -- 15.7.2.2 Auction Designs -- 15.7.3 Sealed-Bid Auctions -- 15.7.3.1 Pricing in Sealed-Bid Auctions -- 15.7.3.2 Pricing bias -- 15.7.3.3 Information Bias -- 15.7.3.4 Uncertainty Bias -- 15.7.3.5 Technology Advance -- 15.8 Supply and Demand in Construction -- 15.9 The Owner as Monopsonist -- 15.10 Bargaining for the Contract Price -- 15.11 Change Orders and Claims -- 15.12 Summary -- References -- Chapter 16 Market Imperfections -- 16.1 Imperfect Information -- 16.2 Externalities -- 16.3 Collusion and Corruption -- 16.3.1 Collusion -- 16.3.1.1 Naturally Caused Collusion -- 16.3.1.2 Artificially Caused Collusion -- 16.3.2 Corruption -- 16.4 Mechanics or Ethics of Collusion -- 16.5 Conclusion -- References -- Chapter 17 Government -- 17.1 Government as Actor on Markets -- 17.2 Taxes and Subsidies -- 17.3 Regulations -- 17.4 Interest Rates -- 17.5 Inflation -- References -- Chapter 18 Public Goods -- 18.1 Characteristics of Private Goods -- 18.1.1 Rivalry -- 18.1.2 Excludability -- 18.2 Theory of Public Goods -- 18.2.1 Demand of a Public Good Based on Utility -- 18.2.2 Demand for a Public Good Based on Willingness to Pay -- 18.3 Free Riding -- 18.4 Cost-Benefit Analysis.
18.5 Construction Goods as Public Goods.
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| Record Nr. | UNINA-9910831076603321 |
Info
Advanced construction management [[electronic resource] ] : the complexity of megaprojects / / Christian Brockmann
