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author:

Li, D.-F. (Li, D.-F..) [1] | Yuan, L.-L. (Yuan, L.-L..) [2]

Indexed by:

Scopus PKU CSCD

Abstract:

Application of the game theory in construction can make the bidding decision more scientific. However, many existing game-based bidding quotation models are based on the hypothesis of risk averse tenders, which does not conform to the construction condition. To better fit the project bidding reality, it is necessary to consider the bidders' (or players') risk attitude. This paper establishes the bidding quotation game model under the bill of quantities with the comprehensive evaluation method by introducing the risk factor representing the bidders' risk attitude, derives the equations of bidding relation and its iterative algorithm, and analyzes the bidding strategies and effects of bidders' risk coefficients on optimal bidding quotations. Analysis of a real case shows that the implication of the game model in bidding quotation can lead to an improvement in the probability of winning the bid. And the proposed game model has its superiority, which may provide a support of methods for real bidding decision making. © 2018, Editorial Office of Control and Decision. All right reserved.

Keyword:

Bidding quotation; Bill of quantities; Comprehensive evaluation method; Game theory

Community:

  • [ 1 ] [Li, D.-F.]School of Economics and Management, Fuzhou University, Fuzhou, 350108, China
  • [ 2 ] [Yuan, L.-L.]School of Economics and Management, Fuzhou University, Fuzhou, 350108, China

Reprint 's Address:

  • [Li, D.-F.]School of Economics and Management, Fuzhou UniversityChina

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Source :

Control and Decision

ISSN: 1001-0920

Year: 2018

Issue: 6

Volume: 33

Page: 1093-1099

Cited Count:

WoS CC Cited Count:

SCOPUS Cited Count: 1

ESI Highly Cited Papers on the List: 0 Unfold All

WanFang Cited Count:

Chinese Cited Count:

30 Days PV: 1

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