The iso-Score Curve Graph. A new tool for competitive bidding

The present work describes a new tool that helps bidders improve their competitive bidding strategies. This new tool consists of an easy-to-use graphical tool that allows the use of more complex decision analysis tools in the field of Competitive Bidding. The graphic tool described here tries to move away from previous bidding models which attempt to describe the result of an auction or a tender process by means of studying each possible bidder with probability density functions. As an illustration, the tool is applied to three practical cases. Theoretical and practical conclusions on the great potential breadth of application of the tool are also presented. ► In this study we present a new tool called iso-Score Curve Graph (iSCG). ► iSCGs help bidders improve their competitive bidding strategies. ► iSCGs increase bidders' chances of winning contracts while maximizing profits. ► As an illustration, the tool is applied to three practical cases.