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traditional procurement (TP) and public-private partnership (PPP). We show that a mixed regime, in which TP is used in one …
Persistent link: https://www.econbiz.de/10012892139
preferences of 900+ real-world public procurement officials in Finland and Germany. This is an important pursuit as they report … importance of multiple features of procurement outcomes. Officials prioritize avoiding unexpectedly high prices but not seeking …
Persistent link: https://www.econbiz.de/10014263185
Cost overrun is ubiquitous in public procurement. We argue that this can be the result of a constraint optimal award …
Persistent link: https://www.econbiz.de/10011451448
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. …
Persistent link: https://www.econbiz.de/10010500427
to invest compared to autarky. The investment levels remain inefficient though. With generation facilities over-investment … occurs sometimes, while systematic under-investment occurs for transportation facilities. Free-riding reduces the incentives … investment. …
Persistent link: https://www.econbiz.de/10010283608
The paper provides a tractable, analytical framework to study regulatory risk. Regulatory risk is captured by uncertainty about the policy variables in the regulator's objective function: weights attached to profits and costs of public funds. Results are as follows: 1) The regulator's reaction...
Persistent link: https://www.econbiz.de/10010276836
We consider a principal-agent relationship with adverse selection. Principals pay informational rents due to asymmetric information and sell their output in a homogeneous Cournot-oligopoly. We find that asymmetric information may mitigate or more than compensate the welfare reducing impact of...
Persistent link: https://www.econbiz.de/10014243167
Firms’ political donations can induce distortions in the allocation of public procurement contracts. In this article … good provision is lower when a larger share of public procurement contracts is awarded to firms donating to the party in … power (‘party donors’). We link this efficiency difference to two underlying mechanisms: i.e. shifts in procurement contract …
Persistent link: https://www.econbiz.de/10012872063
The paper studies the impact of government budget constraint in a pure adverse selection problem of monopoly regulation …. The government maximizes total surplus but incurs some cost of public funds. An alternative to regulation is proposed in …-post with the private firms. This ex-post contracting set-up allows more flexibility than traditional regulation where …
Persistent link: https://www.econbiz.de/10010263923
The literature on public goods has shown that efficient outcomes are impossible if participation constraints have to be respected. This paper addresses the question whether they should be imposed. It asks under what conditions efficiency considerations justify that individuals are forced to pay...
Persistent link: https://www.econbiz.de/10010271780