Hugo Steiner-Prag giving the opening address at the International Book Arts Exhibition; Leipzig.

Verso: Internationale Buchkunstausstellung Leipzing 1927. Eroeffnungsfeier in der Aula der Universitaet Prof. Hugo Steiner-Prag, Praesident der Austellung und I. Vors. des Vereins "Deutsche Buchkuenstler" haelt die Festrede

Hugo Steiner-Prag section at the International Book Arts Exhibition; Leipzig.

Verso: Internationale Buchkunstausstellung1927. Abteilung Hugo Steiner-Prag

Hugo Steiner-Prag approaching speaker's lectern at the International Book Arts Exhibition; Leipzig.

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Erich Gustav Baum lying on the grass reading a book and smoking a pipe Portraits Men

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Artist Rafaello Busoni surrounded by five unidentified men photographing an open book.

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Studio portrait of Rachel Eliasberg seated and holding a book Portraits Women

Wife of Samuel Eliasberg, mother of Wladimir, Helene, Rose and Georg

Seated portrait of Gabriel Beer-Hofmann holding a book Portraits Men

F 5792

Analysis of the distribution of the number of bidders in construction contract auctions

The number of bidders, N, involved in a construction procurement auction is known to have an important effect on the value of the lowest bid and the mark up applied by bidders. In practice, for example, it is important for a bidder to have a good estimate of N when bidding for a current contract. One approach, instigated by Friedman in 1956, is to make such an estimate by statistical analysis and modelling. Since then, however, finding a suitable model for N has been an enduring problem for researchers and, despite intensive research activity in the subsequent thirty years little progress has been made - due principally to the absence of new ideas and perspectives. This paper resumes the debate by checking old assumptions, providing new evidence relating to concomitant variables and proposing a new model. In doing this and in order to assure universality, a novel approach is developed and tested by using a unique set of twelve construction tender databases from four continents. This shows the new model provides a significant advancement on previous versions. Several new research questions are also posed and other approaches identified for future study.

Improving the estimation of probability of bidder participation in procurement auctions

Anticipating the number and identity of bidders has significant influence in many theoretical results of the auction itself and bidders’ bidding behaviour. This is because when a bidder knows in advance which specific bidders are likely competitors, this knowledge gives a company a head start when setting the bid price. However, despite these competitive implications, most previous studies have focused almost entirely on forecasting the number of bidders and only a few authors have dealt with the identity dimension qualitatively. Using a case study with immediate real-life applications, this paper develops a method for estimating every potential bidder’s probability of participating in a future auction as a function of the tender economic size removing the bias caused by the contract size opportunities distribution. This way, a bidder or auctioner will be able to estimate the likelihood of a specific group of key, previously identified bidders in a future tender.

Portrait of Sophie Gottschalk seated holding a book Portraits Women

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Freddy Gottschalk making a bridge over his sister Ursula Gottschalk in a reproduction of an illustration for the book "Kinder-Turnen in Haus" by Fritz Strube. Sports

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Kurt and Hal Gottschalk exercising with a medicine ball in a reproduction of an illustration for the book "Kinder-Turnen in Haus" by Fritz Strube. Sports

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