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Why Do Sellers (Usually) Prefer Auctions?
Bulow, Jeremy I.; Klemperer, Paul - C.E.P.R. Discussion Papers - 2009
We compare the most common methods for selling a company or other asset when participation is costly: a simple simultaneous auction, and a sequential process in which potential buyers decide in turn whether or not to enter the bidding. The sequential process is always more efficient. But...
Persistent link: https://www.econbiz.de/10004976795
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Delegation and the Ratchet Effect: Should Regulators Be Pro-Industry?
Currie, David; Levine, Paul L; Rickman, Neil - C.E.P.R. Discussion Papers - 1999
delegation in the context of a cost-reimbursement procurement problem. Our solution combines several features of the modern …
Persistent link: https://www.econbiz.de/10005136782
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Public Procurement and Rent-Seeking: The Case of Paraguay
Auriol, Emmanuelle; Flochel, Thomas; Straub, Stéphane - C.E.P.R. Discussion Papers - 2011
A model of entrepreneurial choices in an economy with a corrupt public procurement sector is built, providing …. Second, firms favoured with corrupt contracts enjoy extra returns, so that procurement related activities attract the best … entrepreneurs. A large scale microeconomic database, including all public procurement operations over a 4 year period in Paraguay …
Persistent link: https://www.econbiz.de/10008865969
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Properties of Scoring Auctions
Asker, John; Cantillon, Estelle - C.E.P.R. Discussion Papers - 2004
This Paper studies scoring auctions, a procedure commonly used to buy differentiated products: suppliers submit offers on all dimensions of the good (price, level of non monetary attributes), and these are evaluated using a scoring rule. We provide a systematic analysis of equilibrium behaviour...
Persistent link: https://www.econbiz.de/10005497976
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Procurement Favouritism and Technology Adoption
Branco, Fernando - C.E.P.R. Discussion Papers - 1999
The design of cost minimizing procurement rules for the selection of contractors among distinct technological groups …
Persistent link: https://www.econbiz.de/10005504568
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Procurement when Price and Quality Matter
Asker, John; Cantillon, Estelle - C.E.P.R. Discussion Papers - 2007
A buyer seeks to procure a good characterized by its price and its quality from suppliers who have private information about their cost structure (fixed cost + marginal cost of providing quality). We solve for the optimal buying procedure, i.e. the procedure that maximizes the buyer's expected...
Persistent link: https://www.econbiz.de/10005661783
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Relational Contracts and Competitive Screening
Calzolari, Giacomo; Spagnolo, Giancarlo - C.E.P.R. Discussion Papers - 2009
We study the tension between competitive screening and contract enforcement where a principal trades repeatedly with one among several agents, moral hazard and adverse selection coexist, and non-contractible dimensions are governed by relational contracting. We simultaneously characterize...
Persistent link: https://www.econbiz.de/10005082534
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Procuring Innovation
Cabral, Luís M B; Cozzi, Guido; Denicolò, Vincenzo; … - C.E.P.R. Discussion Papers - 2006
, including ideas and research, from their strategic suppliers. A careful design of procurement policy is crucial to make … potential suppliers generate and sell the most suitable innovation. Moreover, procurement by public agencies and large firms … consider a menu of procurement methods and policies for best procuring new knowledge and innovative products, discussing their …
Persistent link: https://www.econbiz.de/10005791875
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Combination Bidding in Multi-Unit Auctions
Cantillon, Estelle; Pesendorfer, Martin - C.E.P.R. Discussion Papers - 2007
This paper considers the problem of identification and estimation in the first-price multi-unit auction. It is motivated by the auctions of bus routes held in London where bidders submit bids on combinations of routes as well as on individual routes. We show that submitting a combination bid...
Persistent link: https://www.econbiz.de/10005791983
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When are Auctions Best?
Bulow, Jeremy I.; Klemperer, Paul - C.E.P.R. Discussion Papers - 2007
We compare the two most common bidding processes for selling a company or other asset when participation is costly to buyers. In an auction all entry decisions are made prior to any bidding. In a sequential bidding process earlier entrants can make bids before later entrants choose whether to...
Persistent link: https://www.econbiz.de/10005123726