Strategies for avoiding asymmetric information in construction project management

Martin Schieg
2008 Journal of Business Economics and Management  
A construction project is characterized by a high number of project participants and a multitude of contract relations. The Principal Agent Theory deals with the design of contracts, especially with respect to asymmetric information. Asymmetric distribution of information in co-operations can have effects before as well as after closing a contract. In construction project management therefore attention has to be paid to where information imbalances occur. Several methods are known with which
more » ... can cope with the resulting problems but which in turn cause costs.
doi:10.3846/1611-1699.2008.9.47-51 fatcat:nzuuf3z3evftze2cma3plau7ra