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Estimating future bidding performance of competitor bidders in capped tenders

Ballesteros-Pérez, P., González-Cruz, M. C., Fernández-Diego, M. and Pellicer, E. (2014) Estimating future bidding performance of competitor bidders in capped tenders. Journal of Civil Engineering and Management, 20 (5). pp. 702-713. ISSN 1822-3605

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To link to this item DOI: 10.3846/13923730.2014.914096

Abstract/Summary

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.

Item Type:Article
Refereed:Yes
Divisions:No Reading authors. Back catalogue items
Faculty of Science > School of the Built Environment > Construction Management and Engineering > Business Innovation in Construction
ID Code:51061
Publisher:Taylor & Francis

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