-cost firm under incomplete information: a separating auction implies adverse selection and relies substantially on commitment to … allocation and transfer rules. A pooling auction serves as a commitment device against ex-post opportunistic behavior and … alleviates adverse selection. It can earn the investor a higher expected payoff than a separating auction, even when consistency …

For the procurement of complex goods the early exchange of information is important to avoid costly renegotiation ex … use of negotiations as a procurement mechanism in private industry. …

resources and procurement managers. Due to anti-corruption laws, agents cannot sell contracts or positions that they are …

This paper deals with a Niskanen type of public-procurement agency. It is shown that the procurement game should be … which refers to both investment and production. Welfare-optimal procurement of the project can be attained under relatively …

We consider auction games where, prior to the auction, bidders spend resources to increase their valuations. The market …

propose a model of corruption, examine how corruption affects the auction game, how the anticipation of corruption affects … that may prevent corruption, and compare them to the fee schedules employed by major auction houses. …