Equilibrium Bid Markup in Multiple Criteria Decision Making
This note* first interprets the economic meanings of two bidding criteria-the conditional positive and negative profit ratios,and then presents the equilibrium bid markup in procurement auctions based on the two criteria of conditional profit ratio and work force continuity,which extends previous work done by 3and4.In addition ,Cobb-Douglas utility function is used to make tradeoff between conditional profit ratio and work force continuity and then to determine equilibrium bid markup.
Multiple criteria decision making Auction Bid markup Cobb-Douglas utility function
Mingxi Wang Shulin Liu
School of International Economics and Trade University of International Business and Economics Beijing,100029,P.R.China
国际会议
长沙
英文
1020-1025
2008-10-28（万方平台首次上网日期，不代表论文的发表时间）