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Auctions when bidders prepare by investing in ideas

Jeitschko, Thomas D.; Wolfstetter, Elmar G. - 2000

We consider auction games where, prior to the auction, bidders spend resources to increase their valuations. The market game is solved by solving an equivalent auxiliary social choice problem. We show that standard auctions are fully efficient, whereas reserve price requirements entail a double...

Persistent link: https://www.econbiz.de/10009781529

Inefficient R&D in public procurement : negative consequences of a separation between award and actual contract

Bös, Dieter - 1999

In public procur ement a temporal separation between award and actual contract allows private entrepreneurs who did not get the award to sue to become contractor. Hence, not only the award-winning entrepreneur, but also the losers will engage in relationship-specific investments. Unfortunately,...

Persistent link: https://www.econbiz.de/10009781703

Auctions and corruption

Lengwiler, Yvan; Wolfstetter, Elmar - 2000

In many auctions, the auctioneer is an agent of the seller. This delegation invites corruption. In this paper we propose a model of corruption, examine how corruption affects the auction game, how the anticipation of corruption affects bidding, and how it altogether changes the revenue ranking...

Persistent link: https://www.econbiz.de/10011397659

Optimal cost overruns : procurement auctions and renegotiation

Herweg, Fabian; Schwarz, Marco A. - 2016 - This version: March 18, 2016

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/10011447525

Probabilistic procurement auctions

Giebe, Thomas; Schweinzer, Paul - 2013

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/10009765519

Demand shocks, procurement policies, and the nature of medical innovation : evidence from wartime prosthetic device patents

Clemens, Jeffrey; Rogers, Parker - 2020

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 …

Persistent link: https://www.econbiz.de/10012388245

Delegation of regulation

Kundu, Tapas; Nilssen, Tore - 2017

We develop a model to discuss a government's incentives to delegate to bureaucrats the regulation of an industry. The industry consists of a polluting firm with private information about its production technology. Implementing a transfer-based regulation policy requires the government to make...

Persistent link: https://www.econbiz.de/10011700470

Indirect savings from public procurement centralization

Lotti, Clarissa; Muço, Arieda; Spagnolo, Giancarlo; … - 2023

Centralization of public procurement can lower prices for the government's direct purchase of goods and services. This … paper focuses on indirect savings. Public administrations that do not procure directly through a central procurement agency …

Persistent link: https://www.econbiz.de/10013542947

Can government demand stimulate private investment? : evidence from U.S. federal procurement

Hebous, Shafik; Zimmermann, Tom - 2019

procurement contracts in the United States with key financial firm-level information. Using panel fixed-effect models, propensity …

Persistent link: https://www.econbiz.de/10011982234

Bureaucrats and public procurement

Bös, Dieter - 2001

This paper deals with a Niskanen type of public-procurement agency. It is shown that the procurement game should be … which refers to both investment and production. Welfare-optimal procurement of the project can be attained under relatively …

Persistent link: https://www.econbiz.de/10011399307