This paper is concerned with predicting the probability of tendering the lowest bid in sealed bid auctions. Four of the leading models from the bidding literature are shown to be subsumed within a general model – differing only in their method of parameter estimation. These models are then...

This paper is concerned with the effect of outliers on predictions of the probability of tendering the lowest bid in sealed bid auctions. Four of the leading models are tested relative to the equal probability model by an empirical analysis of three large samples of real construction contract...