Reiss, J. Philipp; Robert, Schöndube Jens - Maastricht : METEOR, Maastricht Research School of … - 2007
We analyze first-price equilibrium bidding behavior of capacity-constrained firms in a sequence of two procurement auctions. In the model, firms with a cost advantage in completing the project auctioned off at the end of the sequence may enter the unfavored first auction hoping to lose it....