Abstract
A multivariate approach to contract bidding strategies in the construction industry is presented. This represents a radical departure from previous work in the field by using all available data on competing bidders. ‘Optimal’, ‘no loss’ and ‘break even’ mark-up strategies are derived and methods of parameter estimation proposed. A case study shows how the three strategic mark-up values are calculated against known competitors.
Original language | English |
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Pages (from-to) | 1263-1272 |
Number of pages | 10 |
Journal | Journal of the Operational Research Society |
Volume | 45 |
Issue number | 11 |
DOIs | |
Publication status | Published - Nov 1994 |
Externally published | Yes |