Models For Competitive Bidding Under Uncertainty
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Models For Competitive Bidding Under Uncertainty
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Author : Armando Ortega-Reichert
language : en
Publisher:
Release Date : 1967
Models For Competitive Bidding Under Uncertainty written by Armando Ortega-Reichert and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1967 with Letting of contracts categories.
The study analyzes competitive bidding processes as strategy decision problems under uncertainty. In bidding, a decision-maker may have uncertainty about several factors: the reliability of his information, the payoff he will accrue if his bid is successful, his competitors' decision process, and their reaction to the outcome of a bidding process. Quantitative models are developed to incorporate the interrelationship of these factors in the form of competitive games.
Cost Uncertainty In Competitive Bidding Models
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Author : Philippe A. Naert
language : en
Publisher:
Release Date : 1974
Cost Uncertainty In Competitive Bidding Models written by Philippe A. Naert and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1974 with categories.
Models For Competitive Bidding Under Uncertainty
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Author : Armando Ortega-Reichert
language : en
Publisher:
Release Date : 1967
Models For Competitive Bidding Under Uncertainty written by Armando Ortega-Reichert and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1967 with Decision making categories.
Competitive Bidding Under Uncertainty
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Author : Michael Joseph Zahner
language : en
Publisher:
Release Date : 1973
Competitive Bidding Under Uncertainty written by Michael Joseph Zahner and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1973 with categories.
Imperfect Competition And Competitive Bidding Under Uncertainty
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Author : Keith Cates Brown
language : en
Publisher:
Release Date : 1977
Imperfect Competition And Competitive Bidding Under Uncertainty written by Keith Cates Brown and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1977 with Industrial procurement categories.
Uncertainty Analysis In Competitive Bidding For Service Contracts
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Author : Melanie E. Kreye
language : en
Publisher:
Release Date : 2011
Uncertainty Analysis In Competitive Bidding For Service Contracts written by Melanie E. Kreye and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with categories.
Sustainable production and consumption have become more important internationally, which has led to the transformation of market structures and competitive situations into the direction of servitisation. This means that manufacturing companies are forced to compete through the supply of services as opposed to products. Particularly the suppliers of long-life products such as submarines and airplanes no longer simply sell these products but provide their capability or availability. Companies such as Rolls-Royce Engines achieve 60% of their revenue through selling a service rather than the engine itself. For a manufacturing company, the shift towards being a service provider means that they usually have to bid for service contracts, sometimes competitively. In the context of competitive bidding, the decision makers face various uncertainties that influence their decision. Ignoring these uncertainties or their influences can result in problems such as the generation of too little profit or even a loss or the exposure to financial risks. Raising the decision maker's awareness of the uncertainties in the form of e.g. a decision matrix, expressing the trade-off between the probability of winning the contract and the probability of making a profit, aims at integrating these factors in the decision process. The outcome is to enable the bidding company to make a more informed decision. This was the focus of the research presented in this thesis. The aim of this research was to support the pricing decision by defining a process for modelling the influencing uncertainties and including them in a decision matrix depicting the trade-off between the probability of winning the contract and the probability of making a profit. Three empirical studies are described and the associated decision process and influencing uncertainties are discussed. Based on these studies, a conceptual framework was defined which depicts the influencing factors on a pricing decision at the bidding stage and the uncertainties within these. The framework was validated with a case study in contract bidding where the uncertainties were modelled and included in a decision matrix depicting the probability of winning the contract and the probability of making a profit. The main contributions of this research are the identification of the uncertainties influencing a pricing decision, the depiction of these in a conceptual framework, a method for ascertaining how to model these uncertainties and assessing the use of such an approach via an industrial case study.
Comparative Analysis Of Bid Markup Estimation Techniques
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Author : Kassem Ali El-Chazli
language : en
Publisher:
Release Date : 2004
Comparative Analysis Of Bid Markup Estimation Techniques written by Kassem Ali El-Chazli and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with categories.
In the construction industry, competitive bidding decisions are usually made under uncertainty due to a multitude of factors, the most complex of which is th e behavior and attitude of the bidding competitors. After decision to bid has been made by a contractor, the most difficult decision is the estimation of a competitive bid markup which secures a profit and has a reasonable probability to be the least bidder. Two components of the markup can be determined routinely namely corporate overhead a nd profit, whereas, the third component called contingency is the real unknown of t he bidding problem. This research will discuss the methodologies employed for the estimation of bid markups in general and contingency in particular starting from the tradition al intuitive approach of assigning a heuristic percentage of the project total cost estimate, to the analytical models, the analogy- based models and the touches upon the mos t recent hybrid models combining analytical and analogy- based techniques. The research conducts a comparative analysis of these techniques focusing on the merits, limitations and drawbacks of each and concludes that the use of each model is a function of the level of risk associated with the construction project and the project characteristics, and that the hybrid models can be the optimum solution. The neuro- fuzzy approach, based on the friendly sigmoid function acting as an activation and a membership function, which manifests the desirable properties f or nonlinear function approximation, knowledge transparency of the fuzzy logic, and ability to learn the knowledge of the neural networks, overcomes the problem of dimensionality suffered by the analytical models, and the "black box" shortcomin g of the neural networks. Moreover, the use of the well developed adaptive B- spline networks is believed to overcome the infinite receptive fields of the sigmoid an d produce error surfaces of minimum plateaus and deep saddle points.
Static Competitive Bidding Models
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Author : Marcel Weverberg
language : en
Publisher:
Release Date : 1981
Static Competitive Bidding Models written by Marcel Weverberg and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1981 with Auctions categories.
Adaptive Bidding In Single Sided Auctions Under Uncertainty
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Author : Clemens van Dinther
language : en
Publisher: Springer Science & Business Media
Release Date : 2007-01-10
Adaptive Bidding In Single Sided Auctions Under Uncertainty written by Clemens van Dinther and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-01-10 with Computers categories.
This is one of the first books on the use of software agents to simulate bidding behavior in electronic auctions. It introduces market theory and computational economics together, and gives an overview on the most common and up-to-date agent-based simulation methods. The book will help the reader learn more about simulations in economics in general and common agent-based methods and tools in particular.
Bidding Under Uncertainty
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Author : Sesha Iyer
language : en
Publisher:
Release Date : 2023
Bidding Under Uncertainty written by Sesha Iyer and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023 with Decision making categories.