Measurements to Protect Owners'' Benefits under the Non-price Bottom Bidding

Investment on construction projects has become an important factor in improving the development of economy in China.The non-price bottom bidding is a representation that the investment on projects is becoming standardized.During the years of trying out the non-price bottom bidding,the colluding in bidding or bidding below the cost has happened several times,which have damaged the benefits of owners.To solve theses problems,this paper firstly studies the reason of these problems-the failure in the normal relationship between principal and agent.Then,some measures have been presented as follows: building systematic and scientific system of qualification prejudication,judging behaviors of colluding in bidding and bidding below the cost with reason and providing a surety mechanism of the project.The authors hope that these measures are beneficial to non-price bottom bidding.     

Management System of the Tender and Bidding for Power Projects with a Valuation Based on the Bill of Quantities

Valuation based on the bill of quantifies will change the existing valuation mode of tender and bidding. For the standardized management of tender and bidding for power projects and the inteUigentized information management of power enterprises, it is an inevitable trend of reform to apply the valuation mode based on the bill of quantifies. According to the characteristics of power projects, this paper expounds the working process of the valuation mode based on the bill of quantities and analyzes the goal and function need of the tender and bidding management system. Considering the calculation procedure of the valuation and the quote strategy of quantities bill, the composition of fees for the valuation is settled and the calculation method is designed. To establish the management system of tender and bidding with a valuation based on the bill of quantities is beneficial for the costing reform of power projects and the perfection of the tender and bidding market. Therefore it is of great significance to spread the new management mode of project costing with a valuation based on the bill of quantities.     

information Asymmetry Theory and Its Application in the Project Management

This paper introduces the basic content of information asymmetry theory and comments on the theory of information asymmetries.It establishes an information model in project management and analyzes the phenomenon of information asymmetries between owner and contractor in the phase of bidding and fulfilling.It presents some countermeasures of resolving information asymmetries in the project management such as building information network,devising reasonable contract,reinforcing government' s guidance,strengthening the good faith,breeding intermediate agency,building the system of early risk warning and so on.     

Microcomputer Network Management Information System for Construction Engineering Invite and Bidding

To assure that inviting and bidding are accomplished legally, normally and orderly in the construction engineering, a tangible market came into being by means of novel technologies, such as computers, networks and information managing so that exoteric, fair and equitable principles are embodied during inviting and bidding in the construction engineering. A framework model of the information managing system for inviting and bidding is proposed, which owns common functions and can be applied to usual construction engineering bargaining. Functions and characteristics of the computer network management system, which was developed and applied on the basis of the framework model, for construction engineering inviting and bidding information are demonstrated. In addition, pivotal technologies of developing the system also are expatiated.Anticipated effects are gained and the system is proved to own a friendly man machine interface after running and applying near a year. Maneuverability and expansibility is competent for inviting and bidding in the tangible construction market.     

The Probability Risk Analysis of Bidding and Pricing for the Use of Land

In this paper by the probability method the effect of the undefinite indexes and the risk indexes on interior revenue rate(IRR) the main economic evaluation index in bidding and pricing of the use of land, is researched. The risk of the item is appreciated and the basis of bidding and pricing for the use of land is acquired. An example is presented.     

Two Formulas of Debt Valuation About risky Enterprise with Contingent Claims Analysis and Comparison

Risky debt valuation differs greatly from that of no risk so that under uncertainty of income flower and discount rate, usually we can not get a kind of resonlution to express the type. With no account of the discount rate, we are absorbed in property value influence under uncertainty. As generalizing the theory of option pricing, contingent claims analysis can handel debt valuation, and sometime give closed form expressions.Two formula obtained by Merton and Black&Cox, are Compared and different conditions are discussed. At last, some comment on formula of debt valuation is given.     

Improvement Algorithm of Generation Cost Based on Reliability

This paper discusses the influenced manner of reliability on bidding, and establishes the direct functional relationship among reliability, generation cost and electricity price in different risk of power generation. In this function model, the generation cost and the price could reflect the current reliability of equipment in a dynamic way. The generation risk is also considered in competitive bidding. The bidding strategy based on this model helps the power plant acquire the optimal benefit.     

Analysis of the Behavior of Together-conspired Bidding

Since China adopted formalized and standardizedprocedures of tender and bidding in the construction industry, many illegal actions have been prevented effectively. However, the together-conspired bidding, a new illegal activity,recently emerged in many regions of China. It is widely believed that the establishedfair competition system will be frustrated and the healthy development of the industry will be harmed, if the together-conspired bidding can not be controlled. This paper firstly introduces the background of the together-conspired bidding and stressed the necessity of preventing together-conspired bidding. Then, the whole procedure of together-conspired bidding is studied and ananticipated profit model fortogether-conspired bidding is provided from the economic angle. According to the analysis on interactions between the economic factors and the anticipated profits, some strategic methods to prevent the together-conspired biddingare recommended.     

Value Engineering Applied in the Bidding

Project bidding and assessing aim at choosing the best bidder, and then achieve the best optimization of bidder's value aim. The current method of project bidding does not qualifiedly describe the connection among the quality, time limit for the project, and investment of engineering project, so it can not exactly evaluate the bidder's value aim. Consequently, this is not beneficial to achieve the best value. Value engineering is a function analysis method achieving the necessary functions at the lowest cost of total lifetime cycle. Based on the analysis of the existing issues in the valuating system, this paper provides some improvement on the current valuating methods and scientific basis for choosing the best bidder through calculating the value coefficient such as function, cost and value.     

Study on Application of Value - at - Risk to the Risk Evaluation of Construction Project Bidding

The value-at-risk(VaR) model is a statistical model to estimate and control financial risk,and used to measure the most probable loss on the next deal stage of financial asset portfolio.Based on the principle of the value-at-risk,in this paper the value-at-risk is to be applied to the risk evaluation of construction project.Assuming the sub-project prices abide by the BQ model are random variable which conform to normal distribution,this paper has built up the portfolio of project according to biding and quoted price of construction project,and adopted the variance-covariance method to measure the value-at-risk of the biding and quoted price in order to provide a feasible risk analysis tool for the evaluation of construction project bidding.     

Study on the Application of Communications Mechanism of Multi-agent Cooperation System in Tender Offer and Bidding

The quantity of work is needed to calculate the cost in tender offer and bidding. We represent the characteristic of KQML and put forward the idea of constructing the cost calculation system, which includes quantities calculation agents and cost calculation agents, applicable for not only tender bidding but also tender offer. The emphasis is to construct the communications mechanism between two kinds of agents by KQML. Then a communications application example between two kinds of Agent is depicted.     

The Problems and the Countermeasures in Bidding Management of the Construction Engineering Project

Dividing the bidding document into technical bidding and commercial bidding and scoring them respectively, then evaluating and awarding the bidding according to some principles and the fixed procedures and it may be the promising solution to problems existing in the bidding.     

Investigation on the Theory and Means of Construction Tendering and Bidding in the Period of Economy Transition

The tendering and bidding of engineering construction is a means, which makes use of the function of market mechanism to carry on or transmit the project.It has a history over one hundred years abroad, but it is used in China with great force only twenty years.Because actualizing construction tendering and bidding goes with the reform of market mechanism, the fashion of construction tendering and bidding in China is different from that customarily used internationally and there are many differences in means and procedures.In this paper, beginning with the theory of tendering and bidding, the premises of the first-price-sealed tendering and the current condition of China are compared and the means and development objects of tendering in the period of national economy transition are discussed.Finally, some problems and strategies to the problems of the mold of tendering of bill quantity of construction works are discussed.     

Optimal bidding models of power plants considering transmission congestion

In order to achieve optimal bidding strategy of power plants in electricity market, the authors build optimal bidding model by predicting the bidding coefficients of competitors, and the optimal bidding coefficient without considering transmission capacity is achieved. Based on the bidding coefficients, the market clearing model is built, and the expected market clearing price is achieved. According to the expected values, the authors calculate the power flow. When forecasting the transmission congestion, this paper presents an optimal bidding model taking transmission congestion into account. Based on sensitivity analysis, the output regulation of power plants with minimum cost of eliminating congestion is achieved. Simulation results demonstrate that the proposed method can help power plants achieve the optimal profit.     

Construction and Realization of Gradually Approaching Algorithm on Pricing American Put Options

The American put valuation problem is very important and complicated in the Option Pricing Theory (OPT), and so far the appropriate continuous-time pricing model and compact valuation formula for the American put option have not been found. On the basis of the research works of many scholars such as Black, scholes, Parkinson, Brennan, Schwartz, Rendleman, Bartter, Cox, Ross and Rubinstein etc., making use of the notion of limitation and the binomial approach, this paper constructs and realizes gradually approaching algorithm of pricing American put options. Its reasonability, convergence and validity are tested by computer programming. The results show that this algorithm can effectively resolve the American put valuation problem.     

Evaluation of Regional Tourism Competition Basc on SEM

There are a lot of evaluation approach on Regional Tourism Competition,such as Analytic Hierarchy Process(AHP),Data Envelopment Analysis(DEA),Principal Component Analysis(PCA),Fuzzy Cluster Analysis(FCA) and so on,but so far there is less research on valuation approach on Regional Tourism Competition via SEM.This paper has constructed an evaluation model about Regional Tourism Competition via the result of 5 Factors model on Regional Tourism Competition via SEM.     

Square Pegs and Round Holes: Can the Economic Paradigm be Used to Value the Wilderness?

ABSTRACT This paper examines whether economic valuation methods are capable of meaningfully measuring the value of the wilderness in monetary terms. Although non-monetary valuation methods are often important in policy making arenas, this paper focuses on monetary methods. Three questions are examined to determine if these economic valuation methods can contribute to the development of wilderness policy. First, are the valuation methods which have been developed by economists capable of expressing in dollar terms the value of all the services which the wilderness supplies? Second, if these valuation methods are not capable of eliciting all the relevant values, are they still useful for public policy purposes? Third, can the valuation methods be modified or can new methods be developed which can measure some of the values which have not been captured by the previously employed methods? The paper reviews existing valuation methods according to these criteria and finds that the ability to value the wilderness is limited by the shortcomings of currently employed techniques. Refinements to existing methods and potential new methods are suggested to further the valuation process.     

Ascertainment of the Cost of Construction Product in Construction Tendering and Bidding

The Tendering and Bidding Law" states that the bidder should not compete bidding through quoted price lower the cost, but it does not ascertain the meaning of the cost of building product. It is the purpose of this paper to ascertain the meaning of the building product cost. The calculation bases of both the social average product cost and of the enterprise individual product cost are analyzed and they are compared with each other. The authors point out that for some enterprise there is individual product cost lower the social average product cost. The function of design mechanism of bidding is revealing "private information" on "the lowest price". The purpose of carrying out bidding is introducing competition, reducing the cost for the owner and realizing the maximum yield. Both indicate the cost of building product, mentioned in "The Tendering and Bidding Law" should be the enterprise individual product cost.     

基于决策树的农产品供应商竞标能力的数据挖掘分析

应用基于决策树的数据挖掘算法对农产品电子商务B2B系统中的历史竞标样本进行了分类,通过给出一个结合实例的算法实现过程,说明了供应商在竞标过程中产品报价等部分影响因素间的一些潜在性规则,从而得出不同特征的农产品供应商在虚拟市场中的竞标能力高低差异依次由产品报价、配送及时率、市场需求水平等因素决定。     

Should State and Local Government Bidding for Big Businesses Be More Like eBay?

During recent decades, and especially after the economic downturn that began in the late 2000s, many U.S. state and local governments have intensified their pro‐growth efforts to promote corporate investment and jobs, including ever higher incentives (such as tax breaks and grants) in their bidding wars for big businesses. This paper draws an analogy—between bidding for big businesses and bidding on eBay—to highlight the drawbacks of high‐profile bidding wars among governments given that the large corporations establish the bidding rules in their favor. The main consideration raised is whether state and local government bidding for big businesses, which operates analogously to an auction, should be more like eBay, whose rules are fair not only for sellers but also for bidders.