Van Der Meulen, G J R and Money, A H (1984) The bidding game. Journal of Construction Engineering and Management, 110(2), pp. 153-164. ISSN 0733-9364
Abstract
Published bidding models have traditionally been approached from the point of view of the bidder or contractor. This paper deals with the analysis of more than 5,000 tenders comprising approximately 34,000 bids which were received by the specifiers. It was found that similar recognizable statistical frequency distributions existed in three different countries. It is therefore postulated that there exists a typical behavior pattern which can be represented by this frequency distribution. It was also postulated that the coefficient of variation of a tender is indicative of the risks which the bidders perceived. The means of the frequency distributions of the coefficients of variation also appear to be independent of the country, the type of construction industry, the economic climate, or time.
| Item Type: | Article |
|---|---|
| Index terms: | construction industry, bidder, frequency distribution, bidding, variation |
| Subjects: | contractual condition, industry analysis, statistical analysis, bidding |
| Topics: | Contract Administration, Procurement, Research Practice |
| Descriptive scope: | 4 PCTA |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here