Application of Game Theory in Bidding Strategy

Xuan Hua Qin; Fen Luo

doi:10.4028/www.scientific.net/AMM.357-360.2645

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Study on the Engineering Cost Management Systems
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The use of Past Projects as Means to Enhance the Education Experience of Civil Engineering Students
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Application of Game Theory in Bidding Strategy
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Improvement and Application of Risk Matrix
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Risk Analysis and Control in the Yellow River-Crossing Tunnel of South-to-North Water Diversion East Line
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A Study of the Constitute System of Cost Claim under the Valuation Mode of Bill of Quantities (BQ)
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Risk Management of International Project Based on AHP and FMEA
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HomeApplied Mechanics and MaterialsApplied Mechanics and Materials Vols. 357-360Application of Game Theory in Bidding Strategy

Application of Game Theory in Bidding Strategy

Abstract:

This paper uses the utility function to determine the distribution of tenders costs as the most realistic normal distribution with parameters and . It comes up with the tenders strategies through maximized utility analysis and discusses the influence of risk preference coefficient on bidding strategies. In view of the present construction market, the thesis proposes the necessity and the pressing to continue to strengthen the application of the bidding system.

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Periodical:

Applied Mechanics and Materials (Volumes 357-360)

Pages:

2645-2649

DOI:

https://doi.org/10.4028/www.scientific.net/AMM.357-360.2645

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Online since:

August 2013

Authors:

Xuan Hua Qin*, Fen Luo

Keywords:

Bidding, Game Theory, Optimal Bidding, Risk Factor

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