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. …

, a good of too high quality or too low quality is traded ex post. Based on the buyer's expectation management, our theory …

We propose a theory of ex post inefficient renegotiation that is based on loss aversion. When two parties write a long … renegotiated outcome sticky and materially inefficient. The theory has important implications for the optimal design of long … ; incomplete contracts ; reference points ; employment contracts ; behavioral contract theory …

in line with the predictions of our theory. In particular, we find that the share of short-term collaborations is higher …

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

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