Gates' bidding model

Skitmore, Martin R., Pettitt, Anthony N. and McVinish, Ross (2007) Gates' bidding model. Journal of Construction Engineering And Management, 133 11: 855-863. doi:10.1061/(ASCE)0733-9364(2007)133:11(855)

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Author Skitmore, Martin R.
Pettitt, Anthony N.
McVinish, Ross
Title Gates' bidding model
Journal name Journal of Construction Engineering And Management   Check publisher's open access policy
ISSN 0733-9364
Publication date 2007
Sub-type Article (original research)
DOI 10.1061/(ASCE)0733-9364(2007)133:11(855)
Volume 133
Issue 11
Start page 855
End page 863
Total pages 9
Place of publication Reston
Publisher Asce-amer Soc Civil Engineers
Language eng
Abstract In evaluating closed-bid competitive procurement auctions, the most crucial issue is to determine the probability of placing a winning bid for a given markup level. There has long been disagreement on how this should be done due to the absence of a mathematical derivation of one of the main evaluation techniques-Gates' method. Gates' method is shown in this paper to be valid if, and only if, bids can be described using the proportional hazards family of statistical distributions. When markup values are included in Gates' method, it is seen that the underlying statistical distribution required for the method to work is closely related to the Weibull distribution. Likelihood based methods are suggested for parameter estimation and an illustrative example is provided by analysis of Shaffer and Micheau's 1971 construction contract bidding data.
Keyword Construction & Building Technology
Engineering, Industrial
Engineering, Civil
Timber Sales
Q-Index Code C1
Q-Index Status Provisional Code
Institutional Status Non-UQ

Document type: Journal Article
Sub-type: Article (original research)
Collections: Excellence in Research Australia (ERA) - Collection
School of Mathematics and Physics
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Citation counts: TR Web of Science Citation Count  Cited 9 times in Thomson Reuters Web of Science Article | Citations
Scopus Citation Count Cited 15 times in Scopus Article | Citations
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Created: Mon, 18 Feb 2008, 15:26:27 EST