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Can formal contracts help resolving the holdup problem? We address this important question by studying the holdup problem in repeated transactions between a seller and a buyer in which the seller can make relation-specific investments in each period. In contrast to previous findings, we...
Persistent link: https://www.econbiz.de/10009228616
We study the holdup problem in repeated transactions between a seller and a buyer such that the seller makes relation-specific investments in each period. We show that where, under spot transaction, formal contracts have no value because of the cooperative nature of investment, writing a simple...
Persistent link: https://www.econbiz.de/10005196210
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/10013024680
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/10012993698
organisational and contractual solutions are best suited. Optimum rig procurement will depend in part on whether the oil companies … and capacity to manage and follow up procurement …
Persistent link: https://www.econbiz.de/10013046580
We analyse procurement auctions in which sellers are distinguished on the basis of the ratios of quality per unit of …
Persistent link: https://www.econbiz.de/10013078958
Discriminatory programs that favor local and small firms in government procurement are common in many countries. This … paper studies the long-run impact of procurement discrimination on market structure and future competition in industries … where learning-by-doing makes incumbent firms more efficient over time. We consider a sequential procurement design problem …
Persistent link: https://www.econbiz.de/10013315854
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/10011210403
resources and procurement managers. Due to anti-corruption laws, agents cannot sell contracts or positions that they are …
Persistent link: https://www.econbiz.de/10010548151
investigate the impact this change in procurement contracts has on efficiency. Focusing on coal mines, we find that those selling …
Persistent link: https://www.econbiz.de/10013030481