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Abdel-Wahab, M and Vogl, B (2011) Trends of productivity growth in the construction industry across Europe, US and Japan. Construction Management and Economics, 29(06), 635–44.
Bajjou, M S and Chafi, A (2022) Exploring the critical waste factors affecting construction projects. Engineering, Construction and Architectural Management, 29(06), 2268-99.
Camilleri, M, Jaques, R and Isaacs, N (2001) Impacts of climate change on building performance in New Zealand. Building Research & Information, 29(06), 430–50.
Chi, C S F and Nicole Javernick‐Will, A (2011) Institutional effects on project arrangement: high‐speed rail projects in China and Taiwan. Construction Management and Economics, 29(06), 595–611.
Edwards, D J (2001) Predicting construction plant maintenance expenditure. Building Research & Information, 29(06), 417–27.
Ekanayake, E M A C, Shen, G, Kumaraswamy, M and Owusu, E K (2022) A fuzzy synthetic evaluation of vulnerabilities affecting supply chain resilience of industrialized construction in Hong Kong. Engineering, Construction and Architectural Management, 29(06), 2358-81.
Gambatese, J A and Hallowell, M (2011) Enabling and measuring innovation in the construction industry. Construction Management and Economics, 29(06), 553–67.
Gidigah, B K, Agyekum, K and Baiden, B K (2022) Defining social value in the public procurement process for works. Engineering, Construction and Architectural Management, 29(06), 2245-67.
Gundes, S (2011) Input structure of the construction industry: a cross‐country analysis, 1968–90. Construction Management and Economics, 29(06), 613–21.
Hartono, B and Yap, C M (2011) Understanding risky bidding: a prospect‐contingent perspective. Construction Management and Economics, 29(06), 579–93.
- Type: Journal Article
- Keywords: bidding; mark-up; contingency; cluster analysis; prospect theory
- ISBN/ISSN: 0144-6193
- URL: https://doi.org/10.1080/01446193.2011.569733
- Abstract:
A descriptive research school of thought provides the context for an examination of contractors? risky bid mark-up decisions in a competitive bidding setting. Grounded in prospect theory and the one?reason decision model, a contingency?based theoretical model was developed to explain and to predict bid mark?up decisions in light of four identified determinants, namely: perceived ?rate of returns?, ?revenues?, ?project backlogs? and ?project strategic importance?. Three scenarios according to this model were verified by means of a self?administered survey in the Singapore construction industry. By using cluster analysis, five groups of bidders with distinctive bid profiles were identified and the associated bid mark?ups were calculated. The emerging groups provide an empirical illustration on how the theoretical model is utilized. For instance, one group of bidders (n = 16) demonstrates a scenario of the model in which participating bidders had considered the reported project bid as having high strategic importance to their organizations and hence made aggressive, low bid mark?ups. The theoretically grounded framework could be used by contractors to improve their own bidding strategy in anticipating the likely behaviour of the competitors.
Mohamed, E, Jafari, P and Hammad, A (2022) Mixed qualitative–quantitative approach for bidding decisions in construction. Engineering, Construction and Architectural Management, 29(06), 2328-57.
Murray, B and Smyth, H (2011) Franchising in the US remodelling market: growth opportunities and barriers faced by general contractors. Construction Management and Economics, 29(06), 623–34.
Musarat, M A, Alaloul, W S and Liew, M S (2022) Inflation rate and labours’ wages in construction projects: economic relation investigation. Engineering, Construction and Architectural Management, 29(06), 2461-94.
Navandar, Y V, Bari, C and Gaikwad, P G (2022) Failure factors–a comparative study of private and government construction firms. Engineering, Construction and Architectural Management, 29(06), 2495-513.
Rezakhani, P (2022) Project scheduling and performance prediction: a fuzzy-Bayesian network approach. Engineering, Construction and Architectural Management, 29(06), 2233-44.
Scheublin, F J M (2001) Project alliance contract in The Netherlands. Building Research & Information, 29(06), 451–5.
Shouman, B, Othman, A A E and Marzouk, M (2022) Enhancing users involvement in architectural design using mobile augmented reality. Engineering, Construction and Architectural Management, 29(06), 2514-34.
Taher, A, Vahdatikhaki, F and Hammad, A (2022) Formalizing knowledge representation in earthwork operations through development of domain ontology. Engineering, Construction and Architectural Management, 29(06), 2382-414.
van Manen, M, olde Scholtenhuis, L and Voordijk, H (2022) Empirically validating five propositions regarding 3D visualizations for subsurface utility projects. Engineering, Construction and Architectural Management, 29(06), 2535-53.
Wang, K, Ke, Y, Liu, T and Sankaran, S (2022) Social sustainability in Public–Private Partnership projects: case study of the Northern Beaches Hospital in Sydney. Engineering, Construction and Architectural Management, 29(06), 2437-60.
Wang, Z, Xie, W and Liu, J (2022) Regional differences and driving factors of construction and demolition waste generation in China. Engineering, Construction and Architectural Management, 29(06), 2300-27.
Westberg, K, Noren, J and Kus, H (2001) On using available environmental data in service life estimates. Building Research & Information, 29(06), 428–39.
Yap, J B H, Skitmore, M, Lim, Y W, Loo, S C and Gray, J (2022) Assessing the expected current and future competencies of quantity surveyors in the Malaysian built environment. Engineering, Construction and Architectural Management, 29(06), 2415-36.
Zhang, H, Xing, F and Liu, J (2011) Rehabilitation decision-making for buildings in the Wenchuan area. Construction Management and Economics, 29(06), 569–78.