Construction Incentives Revolutionize Project Efficiency and Quality Nationwide
The article reviews how construction companies are motivated to do better work. It looks at different ways to encourage them, like rewarding progress, controlling costs, and ensuring quality and safety. The current methods mainly focus on optimizing networks and using specific types of contracts. However, there's room for improvement in incentivizing multiple contractors working for the same owner and in providing enough motivation. The future of construction projects will likely involve more systematic approaches based on incentive and principal-agent theories.