Unbalanced Bidding Behavior Regulation Based On Information Asymmetries Theory

In recent years,with the bidding system and the model of bills of quantities and valuation were widely spreading in construction market,the phenomenon which contractors use the unbalanced bidding strategy for a successful bid once and make profit again is not uncommon.On the basis of the total price,the unbalanced bidding strategy can be used to adjust the work sections and trades,preliminaries to bid,then the contractors make profit by variation order and claim in construction,induced the investment out of control and credit market expectations reducing,effecting the efficiency of bidding and performance.Research in domestic on the theory of unbalanced bidding mainly includes two aspects: on the one hand,mathematical models analysis and implementation path research based on profit maximization;on the other hand,digital quantitative analysis and control methods research based on the loss minimization.The former mainly uses mathematical models to analyze the economic value and implementation procedures of the unbalanced bidding created in the perspective of contractors,But it does not explain the system rationality of the existence of general unbalanced bidding,and can not rationally the system damage and reputation damage the extreme unbalanced bidding caused to the construction market and the contractors.The latter mainly analyzes the prevention of unbalanced bidding based on the theory of risk control and practical case analysis,but the quantitative simulation is too complex and cumbersome,and really can not combined with the practice and lack of guidance.At present,few scholars have explored the economic root and behavior essence of unbalanced bidding,and lack of research on the prevention and governance of unbalanced pricing in the transaction stage and the performance stage from the perspective of regulation economics.This research on asymmetry information theory suggests that the division of labor refinement and technical specialization were the inevitable trend.They are also the result of the development of social horizontal and vertical extension.Trading information value and artificial monopoly market transaction parties is the important condition of information asymmetry.Study on the regulation of economics,administrative regulation and judicial regulation is an important means to improve the efficiency of resource allocation failure and correcting market,is an important measure to reduce the information asymmetry of internal market.Based on the above theory,this paper studies the reasons and economics regulation method of unbalanced bidding.Specific content is shown as follows:First,this paper analyzes the the necessity of regulating unbalanced bidding with asymmetric information and regulatory perspective.In the first place,this chapter analyzes the reason of information potential difference,institutional rationality of unbalanced bidding and adverse selection in the trading phase.After that,this chapter analyzes the reason of information potential difference in the implementation phase,the characteristics of unbalanced bidding behavior and moral hazard.Finally,this chapter builds full process regulation model of unbalanced bidding.Second,based on principal-agent performance improvement and system optimization,this paper research on unbalanced bidding regulation in the trading phase.This chapter mainly analyzes the survey and design,bidding agent,clear label and bidding evaluation.Then this chapter puts forward suggestions of unbalanced bidding administrative regulation.Third,studying the regulation of unbalanced bidding based on principal-agent supervision,disclosure of bad faith and disciplinary in the transaction stage.The purpose of this chapter is to analyze the internal uneconomical of the unbalanced bidding,and make suggestions by the principal-agent supervision,disclosure of the faithless and discipline regulation.In conclusion,this paper mainly sorts out the present research situations,manifestation and market impact of the unbalanced bidding by the methods of literature review and empirical analysis,and studies the economic root and the governance path unbalanced bidding generated in the theory of information economics and regulation economics,to provide the ways of whole process regulation to prevent unbalanced bidding.