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Record W1970927417 · doi:10.3141/2228-01

Performance Bond Benefit–Cost Analysis

2011· article· en· W1970927417 on OpenAlex
Lorena Myers, Fazil Najafi

Why this work is in the frame

A frame that forgets how it found something cannot be audited. These are the routes that admitted this work.

fundA Canadian funder is recorded on the work.
no affNo Canadian affiliation: this work is invisible to an affiliation-only frame.
No Canadian affiliation. An affiliation-only frame, the usual design, would never have seen this work. It is one of the works that make the case for inverting the frame.

Bibliographic record

VenueTransportation Research Record Journal of the Transportation Research Board · 2011
Typearticle
Languageen
FieldBusiness, Management and Accounting
TopicPublic-Private Partnership Projects
Canadian institutionsnot available
FundersMinistère des TransportsUniversity of FloridaU.S. Department of Transportation
KeywordsBondDefaultBusinessActuarial scienceCost–benefit analysisOperations managementFinanceEconomicsLawPolitical science

Abstract

fetched live from OpenAlex

A performance bond provides the assurance that an awarded construction project will be satisfactorily completed in the event that the contractor is unable to complete the project as agreed and the contract is terminated. First passed into U.S. law in the late 1800s, performance bonds protect against financial losses. The ability of contractors to provide a performance bond has mistakenly been assumed as a guarantee that contractors will perform well on the projects they are awarded. Indications are that there is a need to evaluate the benefits and the costs of using performance bonds. This paper examines the benefit–cost ratios of performance bonds on a national basis. Analysis was performed on state construction project data collected for contract awards from September 2007 to September 2009. The results of the analysis suggest that states with a small number of defaults, or none at all, did not benefit from having performance bonds, whereas those states with numerous defaults did benefit. In conclusion, the results suggest that performance bonds are beneficial to states that experience a large number of defaults.

Fetched live from OpenAlex and de-inverted. Abstracts are not stored in this database: the inverted indexes are 8.6 GB of the frame’s 9.3 GB of text, and the host has 13 GB free.

Full frame distilled prediction

Teacher imitation

Not calibrated prevalence, not ground truth. Human validation pending. Learned from the 10,348 direct Codex labels and 10,348 direct Gemma labels. Candidate is the union of thresholded teacher heads; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels or direct frontier model labels.

metaresearch head score (Codex)0.006
metaresearch head score (Gemma)0.000
Version: codex-gemma-dda1882f352aValidation status: machine_predicted_unvalidated
Candidate categoriesInsufficient payload (model declined to judge)
Consensus categoriesnone
DomainCandidate signal: none · Consensus signal: none
Study designCandidate signal: Observational · Consensus signal: Observational
GenreCandidate signal: Empirical · Consensus signal: Empirical
Teacher disagreement score0.038
Threshold uncertainty score1.000

Codex and Gemma teacher scores by category

CategoryCodexGemma
Metaresearch0.0060.000
Meta-epidemiology (narrow)0.0000.000
Meta-epidemiology (broad)0.0010.001
Bibliometrics0.0040.009
Science and technology studies0.0010.001
Scholarly communication0.0000.003
Open science0.0020.000
Research integrity0.0000.002
Insufficient payload (model declined to judge)0.0010.000

Machine scores (provisional)

The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.

Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.

Opus teacher head0.175
GPT teacher head0.362
Teacher spread0.187 · how far apart the two teachers sit on this one work
Validation statusscore_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from it