Application And Research Of Game Theory In Compound Bidding Price

Construction bidding is the most important form of competition and trade of construction activities under market economy. From the bidder's perspective, this thesis researches the working-out methods for the widely used bidding & quotation of compound bid. From the basic concept of game theory, the thesis analyzes sealed-bid auction game and summaries its characteristic. On the basis, the similarity between sealed-bid auction game and bidding & quotation game is analogied and the conversion process is proposed, the internal connection between compound bid and game theory is also stated. The result shows that compound bid game is one type of incomplete information static game, and its equilibrium is Bayesian Nash Equilibrium. Based on the above achievements, the thesis finally established a matrix game model, does game analysis of the player in compound bidding with the model and gets the optimal bidding offer corresponding to the equilibrium state, its feasibility and accuracy are verified by case study.