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Bid/no-bid decisions in international construction markets are
considered difficult, being characterized by its uncertainties and
complexities, especially in today's competitive market. Some
authors claim that many companies still utilize tools and methods
that are fragmented, incomplete and rudimentary based on "personal
intuition" or "previous-experience-based" (Han & Diekmann
2001a/b). On the other hand, other authors emphasize that most of
the bidding models found in the literature 'remained in academic
circles and did not find their way into the practical world'
(Wanous et al, 2000). The focus of this work is to make a
contribution towards the reduction of the gap between theoretical
and practical bidding decision models and contribute to the
development of models that could satisfactorily support bidding
decisions for international construction projects. An investigation
of practical bid/no-bid decision models is performed combined with
an evaluation of the degree of applicability of theoretical models
in practice. An important contribution can be done not only to the
academic field but also to managerial one if future research
focuses on the improvement of practical models.
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