Award Price Estimator for Public Procurement Auctions Using Machine Learning Algorithms: Case Study with Tenders from Spain

Manuel J. GARCIA RODRIGUEZ¹, Vicente RODRIGUEZ MONTEQUIN¹*, Andoni ARANGUREN UBIERNA²,
Roberto SANTANA HERMIDA², Basilio SIERRA ARAUJO², Ana ZELAIA JAUREGI²
¹ Project Engineering Area, University of Oviedo, Oviedo, 33004, Spain
manueljgarciar@gmail.com, montequi@uniovi.es (*Corresponding author)
² Department of Computer Sciences and Artificial Intelligence, University of the Basque Country,
San Sebastián, 20018, Spain
andoni.aranguren@gmail.com, roberto.santana@ehu.eus, b.sierra@ehu.eus, ana.zelaia@ehu.eus

Abstract: The public procurement process plays an important role in the efficient use of public resources. In this context, the evaluation of machine learning techniques that are able to predict the award price is a relevant research topic. In this paper, the suitability of a representative set of machine learning algorithms is evaluated for this problem. The traditional regression methods, such as linear regression and random forest, are compared with the less investigated paradigms, such as isotonic regression and popular artificial neural network models. Extensive experiments are conducted based on the Spanish public procurement announcements (tenders) dataset and employ diverse error metrics and implementations in WEKA and Tensorflow 2.

Keywords: Machine learning, Neural networks, Public procurement, Spanish tender.

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CITE THIS PAPER AS:
Manuel J. GARCIA RODRIGUEZ, Vicente RODRIGUEZ MONTEQUIN, Andoni ARANGUREN UBIERNA, Roberto SANTANA HERMIDA, Basilio SIERRA ARAUJO, Ana ZELAIA JAUREGI, Award Price Estimator for Public Procurement Auctions Using Machine Learning Algorithms: Case Study with Tenders from Spain, Studies in Informatics and Control, ISSN 1220-1766, vol. 30(4), pp. 67-76, 2021. https://doi.org/10.24846/v30i4y202106