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Title: Analysis of the distribution of the number of bidders in construction contract auctions
Authors: Ballesteros-Perez, Pablo
Gonzalez-Cruz, M. Carmen
Fuentes-Bargues, Jose Luis
Skitmore, Martin
Keywords: Bidding
International comparison
Number of bidders
Modelling
Tendering
Issue Date: 2015
Publisher: © Taylor and Francis
Citation: BALLESTEROS-PEREZ, P. ...et al., 2015. Analysis of the distribution of the number of bidders in construction contract auctions. Construction Management and Economics, 33(9), pp. 752-770.
Abstract: © 2015 Taylor & Francis. The number of bidders, N, involved in a construction procurement auction is known to have an important effect on the value of the lowest bid and the mark-up applied by bidders. In practice, for example, it is important for a bidder to have a good estimate of N when bidding for a current contract. One approach, instigated by Friedman in 1956, is to make such an estimate by statistical analysis and modelling. Since then, however, finding a suitable model for N has been an enduring problem for researchers and, despite intensive research activity in the subsequent 30 years, little progress has been made, due principally to the absence of new ideas and perspectives. The debate is resumed by checking old assumptions, providing new evidence relating to concomitant variables and proposing a new model. In doing this and in order to ensure universality, a novel approach is developed and tested by using a unique set of 12 construction tender databases from four continents. This shows the new model provides a significant advancement on previous versions. Several new research questions are also posed and other approaches identified for future study.
Description: This is an Accepted Manuscript of an article published by Taylor & Francis in Construction Management and Economics on 16 Oct 2015, available online: https://doi.org/10.1080/01446193.2015.1090008
Sponsor: This research study was funded in Chile by CONICYT under the Fondecyt Program Initiation into Research 2013 (project number 11130666).
Version: Accepted for publication
DOI: 10.1080/01446193.2015.1090008
URI: https://dspace.lboro.ac.uk/2134/32764
Publisher Link: https://doi.org/10.1080/01446193.2015.1090008
ISSN: 0144-6193
Appears in Collections:Published Articles (Architecture, Building and Civil Engineering)

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