Abstract
This study examines tendering data on bid and win prices for general civil engineering work by Tokyu A and B in 2002-2010. Regression analysis is conducted on the data, which are based on information from Shikoku Regional Development Bureau, Ministry of Land Infrastructure, Transport and Tourism, by using factors such as the predetermined price and number of participants to capture the actual situation regarding examination trigger price changes. According to analysis results, the price change in 2008 did not affect bid and win prices and those in 2009 and 2011 had a positive but not statistically significant effect. However, there was a mechanism that if the hiking examination caused avoidance of a firm's contract or invalidation of the bid, the price would be increased by the firm's appropriate trial and error. On testing this mechanism, when the probability of avoidance and invalidation of bids is analyzed, the changes in 2009 and 2011 have positive coefficients and are statistically significant, thus validating the mechanism.
