A platform for research: civil engineering, architecture and urbanism
A platform for research: civil engineering, architecture and urbanism
Seven competitive bidding strategies for optimizing profits in construction contracting are developed; namely: (1) Lone Bidder Strategy—no competitors; (2) Two Bidders Strategy—one competitor; (3) Many Bidders Strategy—more than one competitor, number and identity of competitors not known; (4) All Bidders Known Strategy—more than one competitor, number and identity of competitors known; (5) Number of Bidders Known Strategy—more than one competitor, number of competitors known but identity of competitors not known; (6) Least Spread Strategy—minimizing money left on the table; and (7) Unbalanced Bidding—maximizing competitive position through quantity change. In addition, the following statistical distributions and applications are investigated: (1) Binomial Distribution—forecasting the frequency of winning; (2) Gaussian Distribution—precision of bidding; and (3) Poisson Distribution—forecasting of number of competitors. Other related topics are examined briefly.
Seven competitive bidding strategies for optimizing profits in construction contracting are developed; namely: (1) Lone Bidder Strategy—no competitors; (2) Two Bidders Strategy—one competitor; (3) Many Bidders Strategy—more than one competitor, number and identity of competitors not known; (4) All Bidders Known Strategy—more than one competitor, number and identity of competitors known; (5) Number of Bidders Known Strategy—more than one competitor, number of competitors known but identity of competitors not known; (6) Least Spread Strategy—minimizing money left on the table; and (7) Unbalanced Bidding—maximizing competitive position through quantity change. In addition, the following statistical distributions and applications are investigated: (1) Binomial Distribution—forecasting the frequency of winning; (2) Gaussian Distribution—precision of bidding; and (3) Poisson Distribution—forecasting of number of competitors. Other related topics are examined briefly.
Bidding Strategies and Probabilities
Gates, Marvin (author)
Journal of the Construction Division ; 93 ; 75-110
2021-01-01
361967-01-01 pages
Article (Journal)
Electronic Resource
Unknown
Discussion of “Bidding Strategies and Probabilities”
| ASCE | 2021
Discussion of “Bidding Strategies and Probabilities”
| ASCE | 2021
Closure to “Bidding Strategies and Probabilities”
| ASCE | 2021
Discussion of “Bidding Strategies and Probabilities”
| ASCE | 2021
Bidding Contingencies and Probabilities
| ASCE | 2021