Applying a random coefficients logistic model to contractors' decision to bid

摘要: Contractors' decision to bid is dependent on many individual characteristics, including some that are unobservable by their competitors. There natural heterogeneity across contractors in terms of (i) intrinsic bid/no‐bid preferences; and (ii) responses factors. This can be accounted for applying a random coefficients approach multiple through logistic modelling. The data were collected from managers large medium‐sized Hong Kong via designed bidding experiment. Two models developed. Model 1 considers only two groups factors, namely market environment factors (i.e. number bidders, conditions) project‐specific type size project). 2 extends adding subject years experience, firm size) study the effect these bid. results show there sig...