Research Article
Sep 1974
Bidding Models — The Final Resolution of a Controversy
Author: John M. DixieAuthor Affiliations
Publication: Journal of the Construction Division
Volume 100, Issue 3
Abstract
There has been a controversy over the correct formula to use in computing the probability of winning a contract by competitive bidding. Friedman and Gates have put forward differing views, and Rosenshine has attempted to reconcile them. In this paper the underlying structure of the bidding situation is examined in detail and a full probability model is developed. A revised procedure for computing the probability is set out, in which use is made of Bayes theorem, and this is illustrated by a simple worked example.
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Published In
Journal of the Construction Division
Volume 100 • Issue 3 • September 1974
Pages: 265 - 271
Copyright
© 1974 American Society of Civil Engineers.
History
Published in print: Sep 1974
Published online: Feb 11, 2021
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John M. Dixie
Civ. Service Dept., Civ. Service Coli., London, England
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ASCE Library Cards let you download journal articles, proceedings papers, and available book chapters across the entire ASCE Library platform. ASCE Library Cards remain active for 24 months or until all downloads are used. Note: This content will be debited as one download at time of checkout.
Terms of Use: ASCE Library Cards are for individual, personal use only. Reselling, republishing, or forwarding the materials to libraries or reading rooms is prohibited.
Terms of Use: ASCE Library Cards are for individual, personal use only. Reselling, republishing, or forwarding the materials to libraries or reading rooms is prohibited.