A great body of knowledge exists on the theory of auctions and competitive bidding that is of potential relevance to … construction contract tendering. Most of this, however, contains assumptions – such as perfect information – that are unlikely to … assumptions in the construction tendering context. In particular, the effects of additive and multiplicative (scalar) mark-ups in …

provides overwhelming evidence in favor of the dominance of inherent variability in bidding. … possible value in strategic bidding; providing an indication of mistakes in bids; determining a justifiable amount of bid …

competitive advantage of the consultant if it satisfies a need perceived by the customer, and if the consultant is successful in …