Game analysis in bid quotation under minimum-price system
JIANG Fang-fang, ZHANG Li,GUAN Zhong-liang(School of Economics and Management, Beijing Jiaotong University, Beijing 100044, China)
Bid quotation is an important problem of engineering contractors. This paper applies knowledge of the game theory for bidding analysis under minimum-price system. A game theory model is set up. According to the solution method of auction, it exposes multi-bidders under symmetric information and reaches the conclusion that the bidder who holds the least cost would win the bidding. It also analyses and discusses the conclusion further. Finally, it gives some suggestions for the engineering contractors.