^ Estimating Future Bidding Performance of Competitor Bidders in Capped Tenders | Structurae
0
  • DE
  • EN
  • FR
  • International Database and Gallery of Structures

Advertisement

Estimating Future Bidding Performance of Competitor Bidders in Capped Tenders

Author(s):



Medium: journal article
Language(s): Latvian
Published in: Journal of Civil Engineering and Management, , n. 5, v. 20
Page(s): 702-713
DOI: 10.3846/13923730.2014.914096
Abstract:

Research in Bid Tender Forecasting Models (BTFM) has been in progress since the 1950s. None of the developed models were easy-to-use tools for effective use by bidding practitioners because the advanced mathematical apparatus and massive data inputs required. This scenario began to change in 2012 with the development of the Smartbid BTFM, a quite simple model that presents a series of graphs that enables any project manager to study competitors using a relatively short historical tender dataset. However, despite the advantages of this new model, so far, it is still necessary to study all the auction participants as an indivisible group; that is, the original BTFM was not devised for analyzing the behavior of a single bidding competitor or a subgroup of them. The present paper tries to solve that flaw and presents a stand-alone methodology useful for estimating future competitors’ bidding behaviors separately.

Structurae cannot make the full text of this publication available at this time. The full text can be accessed through the publisher via the DOI: 10.3846/13923730.2014.914096.
  • About this
    data sheet
  • Reference-ID
    10354577
  • Published on:
    13/08/2019
  • Last updated on:
    13/08/2019