Closure to "bid compensation decision model for projects with costly bid preparation" by S. Ping Ho
Journal
Journal of Construction Engineering and Management
Journal Volume
132
Journal Issue
4
Pages
430-431
Date Issued
2006
Author(s)
Ho, S.P.
Abstract
The ineffectiveness of bid compensation is analyzed with the help of bid compensation decision model. The main problem is that if bid compensation is not effective and if the owners are not aware of its ineffectiveness, the owners will lose their chances of adopting other approaches to improving bid quality or concept development. The game theory is one of the most important tools in studying economic behaviors of individuals, corporations, and societies. The bid compensation decision model solves the equilibrium conditions for effective bid compensation.
SDGs
Type
journal article