Current estimation procedures for computing building price indexes do not in an adequate way account for changes in the quality of new residential construction which results in upward biases of price changes, and consequently causes published productivity changes to be too low due to...

A procurement approach commonly used for construction projects involves paying a fixed price per unit conducted, i.e., unit price contracts. We develop an analytical model to study the optimal procurement quantity and monitoring intensity when the required quantities are uncertain. The optimum...