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 …

Unbalanced bidding models have largely ignored the risk aspect of item pricing. Many researchers have acknowledged that … related research has proposed an unbalanced bidding model that has likewise provided a measurement of the expected reward …

-up decisions in a competitive bidding setting. Grounded in prospect theory and the one-reason decision model, a contingency … grounded framework could be used by contractors to improve their own bidding strategy in anticipating the likely behaviour of …

prices in competitive tendering environments. Unbalanced bidding models, in particular, have the objective of maximizing a …Much research effort to date has focused on the development and use of bidding models in optimizing contractors' bid … is shown here that these unbalanced bidding models have been unnecessarily complicated by incorporating consideration of …

important. The need for work and the amount of experience are similar to those factors affecting bidding decisions of top UK …

Unbalanced bidding models have largely ignored the risk aspect of item pricing. Many researchers have acknowledged that … related research has proposed an unbalanced bidding model that has likewise provided a measurement of the expected reward …