Utility Function Evaluation on Economic Variables-Construction Bidding Portfolios for Contractor Project Management

DOI

10.2991/icemse-16.2016.13How to use a DOI?

Keywords

Bidding strategy, economic analysis, utility function

Abstract

The work of contractors mainly comes from bidding strategy, they take this as the main process of the construction project life cycle. And also, it is the most important part to be discussed in the construction management field. This case study considers the economic environment changes, objectively uses the economic analysis of financial management and further subjectively evaluates the utility function to get the optimal return rate and the bid price at the maximum expected utility increasing under interest rate, inflation rate, reinvestment rate and other economic environment variables, to help decision-makers can make the most suitable and competitive bidding decision.

Copyright

© 2016, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Chih-Hsien Lin
AU  - Yao-Kuang Chen
PY  - 2016/12
DA  - 2016/12
TI  - Utility Function Evaluation on Economic Variables-Construction Bidding Portfolios for Contractor Project Management
BT  - Proceedings of the 2016 International Conference on Education, Management Science and Economics
PB  - Atlantis Press
SP  - 56
EP  - 59
SN  - 2352-5398
UR  - https://doi.org/10.2991/icemse-16.2016.13
DO  - 10.2991/icemse-16.2016.13
ID  - Lin2016/12
ER  -