Title :
Simulation model for competitive bidding in construction
Author_Institution :
Dept. of Manage. & Marketing, Mississippi Univ., MS, USA
Abstract :
In this paper, bidding optimization procedures are summarized for the construction context, and a model design is proposed for use in simulating the bidding process and its complexities. Situations involving potentially large numbers of bidders are represented. The simulation model incorporates the variety typically representative of projects for which bids are submitted, as well as the tendency of bidders to respond in varying ways to that variety. Ultimately, data are to be generated by the simulation model for use in developing and testing alternative methods used in bidding optimization.
Keywords :
construction industry; digital simulation; financial data processing; optimisation; project management; bidding optimization procedures; competitive bidding; construction industry; construction projects; model design; simulation model; Character generation; Context modeling; Costs; Design optimization; Equations; Marketing management; Neural networks; Optimization methods; Random variables; Testing;
Conference_Titel :
Simulation Conference Proceedings, 1994. Winter
Print_ISBN :
0-7803-2109-X
DOI :
10.1109/WSC.1994.717546
