The competitive bidding process: Beyond probability models |
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Affiliation: | 1. Ministry of Health, Kuwait City, Kuwait;2. Department of Pharmacology and Toxicology, Faculty of Pharmacy, Suez Canal University, Ismailia, Egypt;3. Department of Pharmacology and Toxicology, Faculty of Pharmacy, University of Tabuk, Tabuk, Saudi Arabia;4. Genetics Unit, Department of Histology and Cell Biology, Faculty of Medicine, Suez Canal University, Ismailia, Egypt;5. Department of Pathology, Faculty of Medicine, Suez Canal University, Ismailia, Egypt;1. Steven & Alexandra Cohen Children''s Medical Center of New York, Northwell Health System, Division of Gastroenterology & Nutrition, New York, United States;2. The Children’s Hospital of Philadelphia, Division of Pediatric Gastroenterology, Hepatology, & Nutrition, Philadelphia, PA, United States;3. The Pediatric Gastroenterology and Hepatology Unit, Department of Pediatrics, University Hospitals of Geneva, Switzerland;4. The Children''s Hospital of Philadelphia, Department of Pathology and Laboratory Medicine, Philadelphia, PA, United States;5. Cardinal Health, Dallas, TX, United States;1. Department of Industrial Engineering, TOBB University of Economics and Technology, Ankara, Turkey;2. School of Industrial and Systems Engineering, Georgia Institute of Technology, Atlanta, Georgia, USA |
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Abstract: | In this article, the author reviews various approaches to competitive bidding. He then goes on to describe the results of a study of factors important to general construction contractors in developing a bidding strategy. These factors are synthesized into a general view of strategic bidding that emphasizes a wide range of information flows and describes the final bid outcome as a function of company objectives, costs, risk and desirability of the job. |
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