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Application of game theory on bidding price decision

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2 Author(s)
Cui Dong-hong ; Manage. Inst., Shenyang Univ. of Technol., Shenyang, China ; Zhang Xi-yan

In order to provide a basis for bid decision, the paper constructed bidding price game model based on game analyzing characteristics in bidding and analyzed string bid phenomenon in bidding by this model, then found the root in this phenomenon. In addition, how to improve the probability of winning a bid by estimating the project cost accurately was discussed, thus, it was beneficial to contractor for bidding price exactly. Finally, how to strength the competitiveness of bidder was proposed. So bidding price game model is a bidding price decision model that can instruct contractor bidding and provide a reference to prohibit string bid behavior.

Published in:

Industrial Engineering and Engineering Management, 2009. IE&EM '09. 16th International Conference on

Date of Conference:

21-23 Oct. 2009