Decision Sciences
8 years ago

China's Lowest Bidding System Poses Risks to Construction Quality

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The Key Points on Lowest Bidding Based on Game Theory
Long Jing-ting

Paper Summary

Lowest bidding is a common practice in international construction contracts, including in China. However, there have been issues with how it's implemented, leading to problems in construction projects. This paper looks at the evidence, pricing system, and management of construction under lowest bidding. Suggestions are provided to improve how lowest bidding is used in China.

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