IDEAS home Printed from https://ideas.repec.org/a/hin/jnlmpe/8013207.html
   My bibliography  Save this article

Risk Propagation of Delayed Payment in Stakeholder Network of Large Hydropower Project Construction considering Risk Resistance and Mitigation

Author

Listed:
  • Yun Chen
  • Zhigen Hu
  • Quan Liu
  • Maoyang Zhao

Abstract

Large hydropower project involves numerous stakeholders in the construction phase. The risk of delayed payment may escalate into an event of catastrophic economic loss through complex stakeholders’ relationships. This paper builds a complex stakeholder network by collecting all contract prices in large hydropower project construction (LHPC) and proposes a novel mathematical model based on Cellular Automata Susceptible-Infected-Susceptible (CA-SIS) framework to analyze the risk propagation of delayed payment (RPDP). In the model, to approximate actual loss diffusion, risk-resisting and risk-mitigating abilities of stakeholders are combined, and relevance between risk mitigation and time is taken into account. The rationality and feasibility of the novel model are illustrated through its application to an actual LHPC. The simulation results include the following: RPDP presents three phases: risk first slightly propagates, risk then exponentially breaks out, and at last propagation consequence will reach a stable state related to stakeholders’ risk-resisting ability closely; in respect of stakeholders’ risk-mitigating ability and property of the network, RPDP range decreases with the increase of number of partners and homogeneity of contract price distribution; in respect of stakeholders’ risk-resisting ability, RPDP range decreases with the decrease of number of partners. This research can serve as a powerful complement to analyze and control the delayed payment in LHPC.

Suggested Citation

  • Yun Chen & Zhigen Hu & Quan Liu & Maoyang Zhao, 2018. "Risk Propagation of Delayed Payment in Stakeholder Network of Large Hydropower Project Construction considering Risk Resistance and Mitigation," Mathematical Problems in Engineering, Hindawi, vol. 2018, pages 1-14, July.
  • Handle: RePEc:hin:jnlmpe:8013207
    DOI: 10.1155/2018/8013207
    as

    Download full text from publisher

    File URL: http://downloads.hindawi.com/journals/MPE/2018/8013207.pdf
    Download Restriction: no

    File URL: http://downloads.hindawi.com/journals/MPE/2018/8013207.xml
    Download Restriction: no

    File URL: https://libkey.io/10.1155/2018/8013207?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hin:jnlmpe:8013207. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Mohamed Abdelhakeem (email available below). General contact details of provider: https://www.hindawi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.