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TENDERING DESIGN WHEN PRICE AND QUALITY IS UNCERTAIN - Theory and Evidence from public procurement

Bergman, Mats A.; Lundberg, Sofia - Institutionen för Nationalekonomi, Umeå Universitet - 2014

Departing from a simple normative theory for the choice between lowest price, highest quality (beauty contest) and more complex scoring rules, we empirically investigate the behavior of local and central authorities. We survey a gross sample of 40 contracting entities about perceived key...

Persistent link: https://www.econbiz.de/10010945099

Day Trading Profitability across Volatility States

Lundström, Christian - Institutionen för Nationalekonomi, Umeå Universitet - 2013

This paper is the first to measure the profitability of day traders across volatility states. We apply a popular day trading strategy, the Opening Range Breakout strategy (ORB), on long time series of crude oil and S&P 500 futures contracts. Average returns are then calculated for each...

Persistent link: https://www.econbiz.de/10010818888

Auctioned and Re-auctioned Children in 19th Century Sweden

Bergman, Mats; Lundberg, Sofia - Institutionen för Nationalekonomi, Umeå Universitet - 1998

determined in English auctions. Some children were re-auctioned. We use historical data from such auctions to study whether …

Persistent link: https://www.econbiz.de/10005197992

Do Combinatorial Procurement Auctions Lower Cost? - An Empirical Analysis of Public Procurement of Multiple Contracts

Lunander, Anders; Lundberg, Sofia - Institutionen för Nationalekonomi, Umeå Universitet - 2009

Combinatorial procurement auctions are desirable as they enable bidding firms to pass their potential cost synergies on …-price procurement auctions of single and multiple contracts, with and without the option to submit package bids, we find that firms … inflate their stand alone bids in the combinatorial auctions compared to their corresponding bids in standard first …

Persistent link: https://www.econbiz.de/10005042214

Do Combinatorial Procurement Auctions Lower Cost? - An Empirical Analysis of Public Procurement of Multiple Contracts

Lunander, Anders; Lundberg, Sofia - Institutionen för Nationalekonomi, Umeå Universitet - 2011

Combinatorial procurement auctions enable suppliers to pass their potential cost synergies on to the procuring entity … stand-alone bids in order to favour their package bids. Using data from standard and combinatorial procurement auctions, we … find that bids on individual contracts in simultaneous standard auctions without the option to submit package bids are …

Persistent link: https://www.econbiz.de/10009003676

Tender Evaluation and Award Methodologies in Public Procurement

Bergman, Mats; Lundberg, Sofia - Institutionen för Nationalekonomi, Umeå Universitet - 2011

The EU procurement directives stipulate that public contracts are awarded to the lowest bidder or to the bidder with the economically most advantageous offer; the latter requiring that a scoring rule must be specified. We provide a simple theoretical framework for tender evaluation and discuss...

Persistent link: https://www.econbiz.de/10008876401

It’s All in the Interval - An imperfect measurements approach to estimate bidders’ costs in descending first price sealed bid auctions

Sundström, David - Institutionen för Nationalekonomi, Umeå Universitet - 2014

A novel method to measure bidders’ costs in descending first price sealed bid auctions is introduced. The novelty is …

Persistent link: https://www.econbiz.de/10010961529

Green Public Procurement as an Environmental Policy Instrument:Cost Effectiveness

Lundberg, Sofia; Marklund, Per-Olov - Institutionen för Nationalekonomi, Umeå Universitet - 2012

Estimates by the European Commission indicate that public authorities within the European Union typically purchase goods and services corresponding to approximately 16 percent of GDP per annum. Hence, it is believed, private firms can be stimulated to invest in less polluting production...

Persistent link: https://www.econbiz.de/10010818890

On the de…nition of W in empirical models of yardstick competition

Lundberg, Johan - Institutionen för Nationalekonomi, Umeå Universitet - 2011

Theoretical models of strategic interaction among local governments are often empirically implemented by the use of spatial econometric techniques. This paper deals with the de…nition of the elements in the spatial weights matrix W in empirical models of strategic interaction among local...

Persistent link: https://www.econbiz.de/10010611655

Endogeneity in a Binomial Model

Brännäs, Kurt; Eriksson, Maria - Institutionen för Nationalekonomi, Umeå Universitet - 1997

A characterization of endogeneity in the binomial regression model is given. The relationship to a model subject to selection is indicated. Maximum likelihood and nonlinear instrumental variable estimators are obtained and evaluated in a Monte Carlo study. A new LM test and a Hausman test...

Persistent link: https://www.econbiz.de/10005771225