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- W2039317312 abstract "With the deepening and developing background of the railway system in China, the traditional method of bidding needs necessary reform and improvement. The application of the core content of Vickrey theory in railway project bidding can promote the participants’ honest quotation. Not only can it configure the limited social resources and reduce the waste of social resources effectively, but also both sides will get the maximum benefit. Through this paper, the authors can draw the following conclusions: (1) Through the analysis of the core content of Vickrey theory and the bidding strategy shows that the Vickrey theory can effectively solve the problem of dishonest bids under information asymmetry; (2) The application of Vickrey’s theory in project bidding, can avoid the problem of finite string, so it is more suitable for railway projects; (3) Using the theory of Vickrey auction theory can make the railway project cheaper, with more high-quality builders; (4) The relevant price incentives can improve the contractor’s profit accordingly, reduce the occurrence of corner-cutting phenomenon to a certain extent and ensure railway engineering construction in a more healthy way." @default.
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- W2039317312 date "2015-01-01" @default.
- W2039317312 modified "2023-09-25" @default.
- W2039317312 title "Research on railway project bidding based on Vickrey theory" @default.
- W2039317312 doi "https://doi.org/10.2495/cuee140851" @default.
- W2039317312 hasPublicationYear "2015" @default.
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