Generalised gamma bidding model

M. Skitmore*

*Corresponding author for this work

Research output: Contribution to journalArticleResearchpeer-review

13 Citations (Scopus)
3 Downloads (Pure)

Abstract

A generalised gamma bidding model is presented, which incorporates many previous models. The log likelihood equations are provided. Using a new method of testing, variants of the model are fitted to some real data for construction contract auctions to find the best fitting models for groupings of bidders. The results are examined for simplifying assumptions, including all those in the main literature. These indicate no one model to be best for all datasets. However, some models do appear to perform significantly better than others and it is suggested that future research would benefit from a closer examination of these.

Original languageEnglish
Pages (from-to)97-107
Number of pages11
JournalJournal of the Operational Research Society
Volume65
Issue number1
DOIs
Publication statusPublished - Jan 2014
Externally publishedYes

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