DocumentCode
3385810
Title
Simulation model for competitive bidding in construction
Author
Seydel, John
Author_Institution
Dept. of Manage. & Marketing, Mississippi Univ., MS, USA
fYear
1994
fDate
11-14 Dec. 1994
Firstpage
1439
Lastpage
1442
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;
fLanguage
English
Publisher
ieee
Conference_Titel
Simulation Conference Proceedings, 1994. Winter
Print_ISBN
0-7803-2109-X
Type
conf
DOI
10.1109/WSC.1994.717546
Filename
717546
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