Generalised gamma bidding model
Skitmore, Martin (2014) Generalised gamma bidding model. Journal of the Operational Research Society, 65(1), pp. 97-107.
A generalised gamma bidding model is presented, which incorporates many previous models. The log likelihood equations are provided. Using a new method of testing, variants of the model are fitted to some real data for construction contract auctions to find the best fitting models for groupings of bidders. The results are examined for simplifying assumptions, including all those in the main literature. These indicate no one model to be best for all datasets. However, some models do appear to perform significantly better than others and it is suggested that future research would benefit from a closer examination of these.
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|Item Type:||Journal Article|
|Keywords:||Generalised Gamma Distribution, Bidding Models, Grouping, Least-squares Cross-validation, Goodness of Fit|
|Divisions:||Current > Schools > School of Civil Engineering & Built Environment
Current > QUT Faculties and Divisions > Science & Engineering Faculty
|Copyright Owner:||Copyright 2014 OR Society|
|Copyright Statement:||This is a post-peer-review, pre-copyedit version of an article published in Journal of the Operational Research Society. The definitive publisher-authenticated version [Journal of the Operational Research Society (2014)
Volume: 65, Pages: 97–107] is available online at: http://www.palgrave-journals.com/jors/journal/v65/n1/abs/jors201318a.html
|Deposited On:||08 Jan 2014 00:03|
|Last Modified:||02 Feb 2015 06:14|
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