Wang, Mingxi; Liu, Shulin; Wang, Shouyang - In: Applied Economics Letters 18 (2011) 6, pp. 591-594
Bid criteria are of prime importance to bidders because they are the basis for the bidders to select bid price or bid mark-up. This article presents the alternative expressions of the bid criteria of the conditional negative and positive profit ratios proposed by Seydel and Olson (1990) and Lai...