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 …

Cost overrun is ubiquitous in public procurement. We argue that this can be the result of a constraint optimal award … a simple design initially enhances competition in the auction. Moreover, the procurer cannot benefit from using a multi …-dimensional auction, as the optimal scoring rule depends only on the price. …

We consider auction games where, prior to the auction, bidders spend resources to increase their valuations. The market …

We analyse procurement auctions in which sellers are distinguished on the basis of the ratios of quality per unit of … ratio offered is selected as the winner of the auction. We model the decision process as based on a general noisy ranking of …

propose a model of corruption, examine how corruption affects the auction game, how the anticipation of corruption affects … that may prevent corruption, and compare them to the fee schedules employed by major auction houses. …

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 …

Until recently, government procurement bidding processes have generally favored domestic firms by awarding the contract …

. Employing an order-balanced design, we use first-price auctions (FPAs) to expose participants to an auction format in which …

We compare two commonly used mechanisms in procurement: auctions and negotiations. The execution of the procurement … - that an intransparent negotiation yields a higher buyer surplus than a transparent auction for a range of parameters. In …. -- corruption ; auctions ; negotiations ; public procurement …