Figure A7.
The chart presents average bid price ratios and the number of bids for towns such as Matsuno, Kiboku, Uwajima, Ainan, Ozu, Seiyo, Kumakogen, Uchiko, Ikata, and Yawatahama. The vertical axis on the left indicates the average bid price ratio, while the right axis shows the total number of bids. Bars represent the number of wins and losses for each town, and points indicate the average bid ratios for both successful and unsuccessful bids. The upper section shows bidders exceeding the 95 percent rule, termed losers or phantom bids, while the lower section shows those within the rule, termed winners. Uwajima and Ainan display the highest win counts, while Seiyo shows a larger number of losses, highlighting the distribution of bidding performance across locations.Company Uw-1’s average bid price ratios and the number of successful and unsuccessful participations counted separately by municipalities in Ehime Prefecture during the research period
Source: Author’s own work