Information asymmetries between vendors and customers in the advanced construction technology diffusion process

M.E. Sepasgozar, S; Shirowzhan, S; Loosemore, M

Information asymmetries between vendors and customers in the advanced construction technology diffusion process

M.E. Sepasgozar, S Shirowzhan, S Loosemore, M

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Publisher:: Emerald
Publication Type:: Journal Article
Citation:: Construction Innovation, 2021, 21, (4), pp. 857-874
Issue Date:: 2021-10-21

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Field	Value	Language
dc.contributor.author	M.E. Sepasgozar, S
dc.contributor.author	Shirowzhan, S
dc.contributor.author	Loosemore, M https://orcid.org/0000-0002-3189-4655
dc.date.accessioned	2021-12-02T07:21:19Z
dc.date.available	2021-12-02T07:21:19Z
dc.date.issued	2021-10-21
dc.identifier.citation	Construction Innovation, 2021, 21, (4), pp. 857-874
dc.identifier.issn	1471-4175
dc.identifier.issn	1477-0857
dc.identifier.uri	http://hdl.handle.net/10453/152037
dc.description.abstract	Purpose: Advanced construction technologies (ACTs) are transforming infrastructure projects, yet there has been little research into and theorization of the process by which these innovations are diffused. The purpose of this paper is to address this paucity of research by exploring the problems of information asymmetries between vendors and customers in the ACT diffusion process. Specifically, the paper explores whether information asymmetries exist between vendors and customers in the ACT diffusion process and what forms they take. Design/methodology/approach: A structured survey of 153 vendors and customers of advanced construction technologies was undertaken across three international ACT exhibitions in Australia. Findings: By comparing the perspectives of both customers and vendors across 15 technology diffusion process variables using importance-performance analysis and principal component analysis, significant differences are found between vendors’ and customers’ perceptions of how effectively information flows in the ACT diffusion process. The results show that vendors are significantly more optimistic than customers about information asymmetries on a wide range of diffusion variables. They also highlight significant potential for information asymmetries to occur which can undermine the advanced technology diffusion process. Originality/value: The results provide important new conceptual and practical insights into an under-researched area, which is of increasing importance to a major industry, which is being transformed by advanced technological developments.
dc.language	en
dc.publisher	Emerald
dc.relation.ispartof	Construction Innovation
dc.relation.isbasedon	10.1108/CI-08-2020-0140
dc.rights	info:eu-repo/semantics/closedAccess
dc.subject	1202 Building, 1503 Business and Management, 1504 Commercial Services
dc.title	Information asymmetries between vendors and customers in the advanced construction technology diffusion process
dc.type	Journal Article
utslib.citation.volume	21
utslib.for	1202 Building
utslib.for	1503 Business and Management
utslib.for	1504 Commercial Services
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Design, Architecture and Building
pubs.organisational-group	/University of Technology Sydney/Faculty of Design, Architecture and Building/School of Built Environment
utslib.copyright.status	closed_access	*
dc.date.updated	2021-12-02T07:21:18Z
pubs.issue	4
pubs.publication-status	Published
pubs.volume	21
utslib.citation.issue	4

Abstract:

Purpose: Advanced construction technologies (ACTs) are transforming infrastructure projects, yet there has been little research into and theorization of the process by which these innovations are diffused. The purpose of this paper is to address this paucity of research by exploring the problems of information asymmetries between vendors and customers in the ACT diffusion process. Specifically, the paper explores whether information asymmetries exist between vendors and customers in the ACT diffusion process and what forms they take. Design/methodology/approach: A structured survey of 153 vendors and customers of advanced construction technologies was undertaken across three international ACT exhibitions in Australia. Findings: By comparing the perspectives of both customers and vendors across 15 technology diffusion process variables using importance-performance analysis and principal component analysis, significant differences are found between vendors’ and customers’ perceptions of how effectively information flows in the ACT diffusion process. The results show that vendors are significantly more optimistic than customers about information asymmetries on a wide range of diffusion variables. They also highlight significant potential for information asymmetries to occur which can undermine the advanced technology diffusion process. Originality/value: The results provide important new conceptual and practical insights into an under-researched area, which is of increasing importance to a major industry, which is being transformed by advanced technological developments.

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http://hdl.handle.net/10453/152037