This paper uses real option methodology to compare the cost of a long-term contract with a price cap to that of spot purchases in construction material procurement. In construction, material procurements are usually short-term, project-based and subject to high price volatility. These...

In consumer electronic markets, rating mechanisms are important facilitators of trust between market participants. This paper investigates whether source credibility theory can support the evaluation of bidders in architecture/engineering/construction (AEC) electronic market places. In contrast...