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What is Optimal Mark-Up Strategies in Bidding about?

This lecture focuses on determining the optimal mark-up level for bidding in civil engineering, building on previous discussions of Friedman’s and Gates’ bidding models. The process involves calculating expected mark-up amounts at various percentages and identifying the point at which the expected mark-up is maximized. An example is provided to illustrate the application of these models using historical bidding data and statistical analysis.

Author

Monoshwi Bandyopadhyay

Language

EN