@inproceedings{6c1d4762f9914345a3693adb401e44b4,
title = "A Numerical Study with Experimental Data on Risk-Averse Subcontractors in Procurement Auctions with Subcontract Bids",
abstract = "Prime contractors often solicit estimates for part of their work from potential subcontractors who can perform that work on their behalf with lower costs, prior to submitting their own estimates in procurement auctions. In a simple model for capturing this aspect of procurement auctions, this note clarifies through a numerical study with experimental data an important factor for obtaining clearer results in the experimental sessions. It was shown that unclear results observed in the sessions conducted previously would be due to the presence of extreme patterns in the distributions of risk aversion rates among the participants. We need to control the extreme risk aversion rates of participants for designing the experiment for future research.",
keywords = "experimental data, numerical study, procurement auction, risk aversion rate, subcontractors",
author = "Naoki Watanabe",
note = "Funding Information: Financial support from the Joint Usage/Research Center at ISER Osaka University and MEXT Grant-in-Aid 24330078 is gratefully acknowledged. Publisher Copyright: {\textcopyright} 2021 IEEE.; 2021 IEEE International Conference on Big Data, Big Data 2021 ; Conference date: 15-12-2021 Through 18-12-2021",
year = "2021",
doi = "10.1109/BigData52589.2021.9671459",
language = "English",
series = "Proceedings - 2021 IEEE International Conference on Big Data, Big Data 2021",
publisher = "Institute of Electrical and Electronics Engineers Inc.",
pages = "3495--3499",
editor = "Yixin Chen and Heiko Ludwig and Yicheng Tu and Usama Fayyad and Xingquan Zhu and Hu, {Xiaohua Tony} and Suren Byna and Xiong Liu and Jianping Zhang and Shirui Pan and Vagelis Papalexakis and Jianwu Wang and Alfredo Cuzzocrea and Carlos Ordonez",
booktitle = "Proceedings - 2021 IEEE International Conference on Big Data, Big Data 2021",
}