The construction contract bidder homogeneity assumption: An empirical test

摘要: This paper describes an empirical study to test the proposition that all construction contract bidders are homogeneous, i.e. they can be treated as behaving collectively in identical (statistical) manner. An examination ofprevious analyses of bidding data reveals a flaw method standardizing bids across different size contracts and new procedure is proposed which involves estimation datum. Three independent sets were then subjected this estimates necessary distributional parrimeters obtained. These tested against bidder homogeneity assumption, resulting conclusion assumption may appropriate,for three-parameter log-normal shape, but not for scale location.