An optimum Bid Approximation Model

by Paul Sugrue, Asst. Prof.; Management Sci. Dept., Univ. of Miami, Coral Gables, Fla.,

Serial Information: Journal of the Construction Division, 1980, Vol. 106, Issue 4, Pg. 499-505

Document Type: Journal Paper


A competitive bidding model is presented which enables the practitioner to approximate an optimum bid with little computational effort. Elementary calculus is used to derive a simplified mathematical expression which yields and accurate approximation of the solution to a bidding problem.

Subject Headings: Bids | Computer models | Mathematical models | Computing in civil engineering | Mathematics | Model accuracy | Approximation methods

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