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Recommend Countermeasure on Surround-Bidding
Tendering and bidding system is vital to ensure construction quality and reduce project cost. However, the existence of the illegal actions like surround-bidding has seriously affected the operation of bidding system. In order to avoid surround-bidding in construction, two additional mechanisms are developed to reinforce traditional tendering and bidding system. A dynamic game model with complete information is established based on game theory. The equilibrium for expected revenues is established at the context of surround-bidding and normal tendering strategy. Manager oral defense and bids duplicate checking are proposed to solve the problem of surround-bidding. The results of game model analysis indicated that these two additional mechanisms are effective to avoid surround-bidding. These mechanisms may increase operational efficiency of construction tendering and bidding system.
Recommend Countermeasure on Surround-Bidding
Tendering and bidding system is vital to ensure construction quality and reduce project cost. However, the existence of the illegal actions like surround-bidding has seriously affected the operation of bidding system. In order to avoid surround-bidding in construction, two additional mechanisms are developed to reinforce traditional tendering and bidding system. A dynamic game model with complete information is established based on game theory. The equilibrium for expected revenues is established at the context of surround-bidding and normal tendering strategy. Manager oral defense and bids duplicate checking are proposed to solve the problem of surround-bidding. The results of game model analysis indicated that these two additional mechanisms are effective to avoid surround-bidding. These mechanisms may increase operational efficiency of construction tendering and bidding system.
Recommend Countermeasure on Surround-Bidding
Wang, Shuo (author) / Yu, Ruixue (author) / Feng, Kailun (author)
International Conference on Construction and Real Estate Management 2017 ; 2017 ; Guangzhou, China
ICCREM 2017 ; 316-326
2017-11-09
Conference paper
Electronic Resource
English
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