Modelling renewal of construction objects applying methods of the Game Theory

Abstract

The paper analyses modelling renewal of construction objects applying methods of the game theory. Rational construction management variants are usually selected under various conditions, using the efficiency criteria. A choice of rational alternatives can be absolutely uncertain when influences of external factors are unknown. In the current paper, selecting of rational renewal variants of derelict buildings from the viewpoint of sustainable development is presented. Sustainable development always involves great uncertainty; accordingly, the methods of the Game Theory are used for a particular problem. Bayes's and Laplace's rules are applied for searching rational renewal variants of derelict buildings in Lithuanian rural areas. The case study proved that the methods of the Game Theory are effective in a real life situation and can be successfully applied to solving similar problems.