Authors : Lior Agai

Volume/Issue : Volume 11 - 2026, Issue 7 - July

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Google Scholar : https://tinyurl.com/mwdruxbp

Scribd : https://tinyurl.com/vm4694py

DOI : https://doi.org/10.38124/ijisrt/26jul1203

Note : A published paper may take 4-5 working days from the publication date to appear in PlumX Metrics, Semantic Scholar, and ResearchGate.

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Abstract : Building a deep understanding of bidder behaviour and preferences allows procurement authorities to spend more efficiently and make sure the tender process is in line with their strategic goals. In this paper, in order to understand how the presence of a price anchor in public procurement tenders (an opening price or an official cost estimate) affects bidder lifetime value (BLV) and long-term retention rate, we apply the Customer Lifetime Value (CLV) model of Exponential Maximum Likelihood Estimation (MLE) to data that is collected from the public procurement tenders published by Israel Electric Company and Israel Railways Company for 211 bidders during January 2022 - October 2025.

Keywords : Customer Lifetime Value, Anchoring Bias, Public Procurement, Retention Rate, Survival Analysis, BLV

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