Record Details

Information Feedback and Learning in Construction Bidding

Construction Economics and Building

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Field Value
 
Title Information Feedback and Learning in Construction Bidding
 
Creator Oo, Bee Lan
Abdul-Aziz, Abdul-Rashid
Lim, Yoke Mui
 
Subject Construction economics
bidding, experiment, feedback, learning
Contracting
 
Description Information feedback condition in recurrent construction bidding is an important design variable about optimal procurement design. Contractors tend to optimize their bids in recurrent bidding with positive review of historic bids. Our experiment examines the effects of partial and no information feedback conditions on student (inexperienced) bidders’ bidding trends, and the extent to which their bidding trends agree with the behavioural patterns proposed by learning direction theory. The results show that the variations in bids over time for both information feedback conditions are statistically significant. Although the bidders with partial bidding feedback information are more likely to vary their bids as indicated by learning direction theory, their bids are less competitive than those with no bidding feedback information. Construction clients would need to consider the information feedback conditions in their procurement of construction services with the goal to achieve efficiency in construction bidding.
 
Publisher UTS ePRESS
 
Contributor —
 
Date 2011-09-21
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
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Experiment
 
Format application/pdf
 
Identifier http://epress.lib.uts.edu.au/journals/index.php/AJCEB/article/view/2173
10.5130/AJCEB.v11i3.2173
 
Source Construction Economics and Building; Vol 11, No 3 (2011): AJCEB; 34-44
2204-9029
 
Language eng
 
Relation http://epress.lib.uts.edu.au/journals/index.php/AJCEB/article/view/2173/2502
 
Coverage South-East Asia
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Rights Copyright (c) 2011 Bee Lan Oo, Abdul-Rashid Abdul-Aziz, Yoke Mui Lim
http://creativecommons.org/licenses/by/4.0