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Risk-minimizing approach to bid-cutting limit determination
Chao, Li-Chung; Liou, Chang-Nan - In: Construction Management and Economics 25 (2007) 8, pp. 835-843
bidding models. An approach to determining the lower limit of the bid for a project is proposed based on minimization of the …
Persistent link: https://www.econbiz.de/10005482448
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Correcting the fee-technical score variability imbalance in two-envelope fee tendering
Drew, Derek; Lai, Po Yin; Li, Heng; Lo, H. P. - In: Construction Management and Economics 20 (2002) 2, pp. 157-166
Consultants' fees and technical submissions in two-envelope fee tendering are usually converted to scores. The fee scores and technical (quality) scores are then multiplied by predetermined weightings and aggregated. To preserve the desired influence of the predetermined weightings, the fee...
Persistent link: https://www.econbiz.de/10005482455
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A simplified unbalanced bidding model
Cattell, David William; Bowen, Paul Anthony; Kaka, Ammar - In: Construction Management and Economics 26 (2008) 12, pp. 1283-1290
Much research effort to date has focused on the development and use of bidding models in optimizing contractors' bid … prices in competitive tendering environments. Unbalanced bidding models, in particular, have the objective of maximizing a … is shown here that these unbalanced bidding models have been unnecessarily complicated by incorporating consideration of …
Persistent link: https://www.econbiz.de/10005482505
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First and second price independent values sealed bid procurement auctions: some scalar equilibrium results
Skitmore, Martin - In: Construction Management and Economics 26 (2008) 8, pp. 787-803
A great body of knowledge exists on the theory of auctions and competitive bidding that is of potential relevance to …
Persistent link: https://www.econbiz.de/10005482608
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Predicting completed project cost using bidding data
Williams, Trefor - In: Construction Management and Economics 20 (2002) 3, pp. 225-235
Neural network and regression models have been developed to predict the completed cost of competitively bid highway projects constructed by the New Jersey Department of Transportation. Bid information was studied for inclusion as inputs to the models. Data studied included the low bid, median...
Persistent link: https://www.econbiz.de/10005482612
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Applying a random coefficients logistic model to contractors' decision to bid
Oo, Bee-Lan; Drew, Derek S.; Lo, H. P. - In: Construction Management and Economics 25 (2007) 4, pp. 387-398
and medium-sized contractors in Hong Kong via a designed bidding experiment. Two random coefficients logistic models are …
Persistent link: https://www.econbiz.de/10005438536
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Tendering theory revisited
Runeson, Goran; Skitmore, Martin - In: Construction Management and Economics 17 (1999) 3, pp. 285-296
This paper discusses the content, origin and development of tendering theory as a theory of price determination. It demonstrates how tendering theory determines prices and how it is different from game and decision theories, and that in the tendering process, with non-cooperative, simultaneous,...
Persistent link: https://www.econbiz.de/10005438577
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Bidding models: testing the stationarity assumption
Skitmore, Martin; Runeson, Goran - In: Construction Management and Economics 24 (2006) 8, pp. 791-803
With notably few exceptions, bidding models contain probability distributions with parameters that are assumed to be …
Persistent link: https://www.econbiz.de/10005438578
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Accounting for rater credibility when evaluating AEC subcontractors
Ekstrom, Martin; Bjornsson, Hans; Nass, Clifford - In: Construction Management and Economics 21 (2003) 2, pp. 197-208
paper investigates whether source credibility theory can support the evaluation of bidders in architecture/engineering … practitioners who evaluate bidding subcontractors trusted the information provided by TrustBuilder significantly more than …
Persistent link: https://www.econbiz.de/10005445668
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Construction project risks: further considerations for constructors' pricing in Hong Kong
Wong, Joe; Hui, Eddie - In: Construction Management and Economics 24 (2006) 4, pp. 425-438
important. The need for work and the amount of experience are similar to those factors affecting bidding decisions of top UK …
Persistent link: https://www.econbiz.de/10005445717