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An Equilibrium Bid Markup Strategy
2012
International Journal of Information Processing and Management
Setting a bid markup strategy is a very difficult task. Nevertheless, it is important to construction firms or consulting engineering companies because the development of successful bidding strategies is a key factor to their survival in business. Based on the two bidding criteria of the conditional profit ratio and the work force continuity, this short paper first presents the explicit expression of an equilibrium bid markup strategy in procurement auctions. However, the two bidding criteria
doi:10.4156/ijipm.vol3.issue2.2
fatcat:a545peygv5bs3bugs7w6djpwq4