Equilibrium Bid Markup in Multiple Criteria Decision Making

摘要

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 [3]and[4].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.