Decision Sciences
8 years ago

Game theory boosts contractor profits in competitive bidding wars!

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Journal of Hefei University of Technology
Application of game theory in the bidding strategy based on the bill of quantities
Binggen Zhan

Paper Summary

The article explores using game theory to help contractors decide on bidding strategies based on the bill of quantities. It looks at how contractors can choose lower prices when there is more supply than demand in the market. The study suggests ways to improve bidding processes and offers a model for bid competitions using game theory.

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