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Arditi, D, Akan, G T and Gurdamar, S (1985) Reasons for delays in public projects in Turkey. Construction Management and Economics, 3(02), 171-81.

Cusack, M M (1985) The use of integer linear programming for modelling project control information. Construction Management and Economics, 3(02), 91-104.

Flanagan, R and Norman, G (1985) Sealed bid auctions: an application to the building industry. Construction Management and Economics, 3(02), 145-61.

  • Type: Journal Article
  • Keywords: bidding; resource constraint; tendering
  • ISBN/ISSN: 0144-6193
  • URL: https://doi.org/10.1080/01446198500000011
  • Abstract:

    This paper examines some of the theory and practice of competitive tendering in the building industry. Allocation of building contracts by means of competitive tendering is one of type of sealed bib auction. Two main strands of the theory of sealed bib auctions are developed. The first strand identifies optimal mark-up given that each tendering and resource constraints of tenderers. It emerges that the first strand is a special case of the second. A simple optimal bid price rule is identified, which indicates that bid price for any one contractor will be affected by the resources available to the contractor and general market conditions. It is shown that bid prices will be more competitive the better the information available to tenderers, the more are fully is the tender list constructed and the greater the number of firms invited to tender. It is further shown, however, that little is gained by having more than five firms on the tender list. Some empirical evidence is examined in the light of this theory and is shown to be consistent with it.

Gray, C and Little, J (1985) A systematic approach to the selection of an appropriate crane for a construction site. Construction Management and Economics, 3(02), 121-44.

Hague, D J (1985) Incentives and motivation in the construction industry: a critique. Construction Management and Economics, 3(02), 163-70.

Marshall, H E (1985) A graphical approach to discount payback. Construction Management and Economics, 3(02), 105-20.