The traditional Medicare fee-for-service program may be able to purchase clinical laboratory test services at a lower cost through competitive bidding. Demonstrations of competitive bidding for clinical laboratory tests have been twice mandated or authorized by Congress but never implemented....

In construction, the issue of competition has been studied focusing on competitive bidding. The objective of most competitive bidding models is to find the optimum mark-up to maximise the expected profit from a single firm's perspective. However, a firm's success depends on its long-term...

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 be tenable in practice. The aim, therefore, is to...