Figure 2.
The graph illustrates bid price ratios for pavement works in Ehime Prefecture, with the horizontal axis showing bid price ratio and the vertical axis representing frequency. The awarded bids form a line that peaks around 0.95, indicating that most winning bids are close to this value. The failed bids form a separate line with multiple peaks, suggesting higher variability, while the floor price ratio forms another distinct curve with smaller peaks around 0.85 and 0.9. A vertical reference line marks the approximate bid ratio threshold of 0.95, where awarded and failed bid distributions intersect.Distribution of bid price ratios for all paving work tenders procured by Ehime Prefecture
Note (s): The vertical axis represents kernel density. Bold solid, bold dashed and thin dashed lines represent winning bid ratios, losing bid ratios and floor price ratios, respectively. The sample excludes unsuccessful cases and outliers in bid price ratios (those below 0.80 or above 1)
Source: Author’s own work, using official bid data disclosed by Ehime Prefecture