bidding

Bid Markup Decision and Resource Allocation for Cost Estimation in Competitive Bidding

  • Nobuaki Ishii
  • Yuichi Takano
  • Masaaki Muraki
    • Categories Applications - OR and Management Sciences Tags , , ,

    To receive a project contract through competitive bidding, contractors submit a bid price determined by putting a markup on the estimated project cost. Since a bid is inevitably affected by an inaccurate cost estimate, sufficient resources should be allocated to cost estimation. This paper develops a novel optimization model for determining the bid markup and … Read more

    A Game-Theoretical Dynamic Model for Electricity Markets

  • Aswin Kannan
  • Victor M. Zavala
    • Categories Applications - OR and Management Sciences, Dynamic Programming, Game Theory Tags , , , , , , ,

    We present a game-theoretical dynamic model for competitive electricity markets.We demonstrate that the model can be used to systematically analyze the effects of ramp constraints, initial conditions, dynamic disturbances, forecast horizon, bidding frequency, and some other factors on the price signals.We illustrate the capabilities of the model using a numerical case study ArticleDownload View PDF