Information on Construction
To analyze the condition of asymmetric information (AI) in construction projects•
To determine the main element AIs on the list of members•
To analyze the impact of secret AIs and corresponding suggestions
Through the point of view of information business economics, asymmetric information causes opportunistic behavior, the major reason for loss and threat within the building marketplace. This research studies on the probability and impacts of asymmetric information phenomena systematically and is targeted on information asymmetry among owners, contractors and supervisors. This really is performed by inviting construction industry individuals in China to guage asymmetric information phenomena in project administration by surveys. The evaluation includes two stages, in other words. putting in a bid phase and performance stage. Risk considerable index is employed to spot the key asymmetric information phenomena. “Owner's financial condition” and “Owner's capability to spend development repayments” gains the greatest score within these two stages respectively. The research helps to differentiate the primary and secondary purchase of asymmetric information phenomena and gets better the effectiveness of project administration. Main individuals can use it as a reference to stop and reduce the doubt and threat in project management.
- Information asymmetry;
- Venture administration;
- Main members;