The tendering and bidding process is the key step in forming the co-operative relationship in project construction. As one of the most important process of construction, Bidding is carried on an asymmetric situation. From the view of the Tenderer, the asymmetric information can be considered as implied or unexpressed contract system. However, from the view of the Owner, it is the measurement taken by the Tenderer, corresponding to his bidding documents, but unbeknown to him. This Asymmetric Situation has great effect on the process of construction project, and to treat and adjust the situation reasonably will be a key problem. Here, from different views, we discussed the asymmetric information situation and gave some advice to both. Both the Owner and the Tenderer can take some measures to make up for the asymmetrical information so as to guarantee the smooth undertaking of the business and realize the interest aims of each parties.
展开▼
