To sum up, risk allocation among pa

To sum up, risk allocation among parties to a construction contract agreement appears to be a relevant problem currently
explored by a vast number of researchers from all over the world. Review of research papers on this topic leads to a
conclusion that equitable and balanced risk allocation among contracting parties is emphasised on the one hand, but on the
other hand, the task of risk allocation/sharing among contracting parties is dealt with on one side only, i.e., by owner. This
approach predetermines improper or contractor-unfavourable risk allocation outcome which results in cost and/or time
overrun and, undoubtedly, in legal disputes. According to the author, risk allocation among the parties to a construction
contract work should employ cooperative decision-making techniques. Cooperative decision-making techniques are
methods of the game theory. The game theory applies when two or more groups of operators – states, armed forces or, in the
case at issue, contracting parties – confront each other. In this case, decisions are to be made in a conflict situation