Determining the Minimum Bid Price for Projects Involving Analysis from Multiple Locations

Mohammad M. Amini () and Gaylon Greer
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Mohammad M. Amini: Department of Management Information Systems and Decision Sciences The Fogelman College of Business and Economics Memphis State University Memphis, Tennessee 38152, http://fcbe.memphis.edu/welcome.html
Gaylon Greer: Department of Finance, Insurance and Real Estate The Fogelman College of Business and Economics Memphis State University Memphis, Tennessee 38152, http://fcbe.memphis.edu/welcome.html

Journal of Real Estate Research, 1993, vol. 8, issue 2, 265-278

Abstract: This paper presents a mathematical model and a solution methodology for determining the minimum fee, the best project duration time, and the optimal number of analysts for projects that involve travel to multiple sites or subcontracts with analysts from geographically dispersed locations. Computational experiments with the solution algorithm on twenty-seven randomly generated projects show that (a) the solution methodology efficiently provides an optimal solution, and (b) it provides decisionmakers with alternative next best plans through ex post sensitivity analysis.

JEL-codes: L85 (search for similar items in EconPapers)
Date: 1993
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