The new firm later won a number of awards.
Game theory states that the first mover, or the initial firm in the industry, will always win.
His firm has won more than 75 design awards.
He added, however, that his firm would win at least the same revenues as 1992 - $40m.
The firm has won several national and international competitions.
The firm won a $125,000 annual contract but actually received $680,000.
Under a system established in 1999, architectural firms won the right to choose the companies that inspect their building plans.
But interviews with more than a dozen clients indicated that even if they lost, the firm usually won them access to senior officials.
Some firm's engineer will probably guess right, but that firm won't win the auction.
The firm won a number of awards for its advisory work.