Unlike standard auctions, we show that competitive procurement may optimally limit competition or use inefficient … allocation rules that award the project to a less efficient firm with positive probability. Procurement projects often involve ex … post moral hazard after the competitive process is over. A procurement mechanism must combine an incentive scheme with the …

We analyse procurement auctions in which sellers are distinguished on the basis of the ratios of quality per unit of …

&D investment, and derive predictions on the effects of trust and competition on suppliers' investment and buyers' procurement … - but also with more competitive procurement: trust and rents from reduced supplier competition in the procurement process …

Cost overrun is ubiquitous in public procurement. We argue that this can be the result of a constraint optimal award …

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. …

We analyze wartime prosthetic device patents to investigate how demand and procurement policy can shape medical … more cost-conscious procurement model during the Civil War. Third, we find that inventors emphasized dimensions of product … historical record, across wars. We conclude that procurement environments can significantly shape the scientific problems with …