Research Article
Mar 1976
LOMARK: A Bidding Strategy
This article has a reply.
VIEW THE REPLYThis article has a reply.
VIEW THE REPLYPublication: Journal of the Construction Division
Volume 102, Issue 1
Abstract
Current competitive bidding strategies and their deficiencies are reviewed. A new bidding strategy method (LOMARK) is presented for use by small to medium-sized contractors working in the local market environment. The method estimates an optimal markup by predicting the chances of winning future bids by treating the local market structure as a single system. Some advantages of the LOMARK method are that it: (1) Assumes implicit dependency between bids; (2) expands the data base for beating a given set of major competitors; (3) varies the percentage markup based on the probable known competitors; (4) is easy to understand; (5) does not require operation by digital computer; and (6) assumes a business strategy. Since LOMARK is not a sequential bidding model, it can not be used in deciding which jobs to bid in the future.
Get full access to this article
View all available purchase options and get full access to this article.
Information & Authors
Information
Published In
Journal of the Construction Division
Volume 102 • Issue 1 • March 1976
Pages: 197 - 211
Copyright
© 1976 American Society of Civil Engineers.
History
Published in print: Mar 1976
Published online: Feb 11, 2021
Permissions
Request permissions for this article.
Authors
Affiliations
Richard Louis Wade
Lieutenant, Civ. Engr. Corps, U.S. Navy, FPO San Francisco, Calif.
Robert B. Harris, F.ASCE
Prof. of Civ. Engrg., Univ. of Michigan, Ann Arbor, Mich.
Metrics & Citations
Metrics
Citations
Download citation
If you have the appropriate software installed, you can download article citation data to the citation manager of your choice. Simply select your manager software from the list below and click Download.
Cited by
View Options
Get Access
Access content
Please select your options to get access
Log in/Register
Log in via your institution (Shibboleth)
ASCE Members:
Please log in to see member pricing
Purchase
Save for later Item saved, go to cart Information on ASCE Library Cards
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.
Get Access
Access content
Please select your options to get access
Log in/Register
Log in via your institution (Shibboleth)
ASCE Members:
Please log in to see member pricing
Purchase
Save for later Item saved, go to cart Information on ASCE Library Cards
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.