Abstract
AbstractPrice negotiation is commonly required to reach a final contractual agreement during the procurement of construction material. However, uncertain and limited supplier information as well as complex correlations among various factors affects supplier behaviors, making learning a supplier’s negotiation strategy and deciding the appropriate offer price difficult for contractors. Therefore, a multistrategy Bayesian fuzzy-game model (MBFGM) that can be applied in forecasting a supplier’s negotiation strategy was developed in this study. A validation analysis revealed that incorporating limited objective data and previous knowledge from experts into the Bayesian learning process can facilitate effectively determining causal relationships in a network as well as improving the accuracy of a learned model. By using the proposed model, contractors can effectively foresee the relationship between its alternative offer prices (OPs) and a supplier’s future bidding strategies. An experiment in which constructio...
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