A Multivariate Approach to Construction Contract Bidding Mark-up Strategies

Martin Skitmore · John Pemberton

56 citations0/0 files storedJournal of the Operational Research Society

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Construction Project Management and Performance Capital Investment and Risk Analysis Auction Theory and Applications

Abstract

A multivariate approach to contract bidding strategies in the construction industry is presented. This represents a radical departure from previous work in the field by using all available data on competing bidders. ‘Optimal’, ‘no loss’ and ‘break even’ mark-up strategies are derived and methods of parameter estimation proposed. A case study shows how the three strategic mark-up values are calculated against known competitors.

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1988Anomalies: The Winner's Curse 1956A Competitive-Bidding Strategy 1959Competitive Bidding

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