Showing 1 - 10 of 1,116
data between 2008 and 2018. For construction auctions, we also rely on bid-level data to inform a regression discontinuity …
Persistent link: https://www.econbiz.de/10012672144
settings in which the class of optimal mechanisms has a deferred acceptance auction representation which allows an … implementation with a descending-clock auction. Only in the case of symmetric projects do price clocks descend synchronously such …
Persistent link: https://www.econbiz.de/10011697176
-bid auction and three di erent descending-clock auctions. We assume that a bidder's willingness-to-accept exceeds his willingness …The targeted design of auctions has to take behavioral regularities into account. This paper explores whether … procurement auction formats can take advantage of bidders' willingness-to-pay-willingness-to-accept disparity. In a laboratory …
Persistent link: https://www.econbiz.de/10012150725
largest rms bidding in provincial road paving procurement auctions in Quebec between 2007 and 2015. I use the police … cartel. I find that after this date, the two suspected firms i) were more likely to bid in the same auction and ii) submitted … significantly lower bids when they competed in the same auction. A structural model of entry and bidding shows that if the firms had …
Persistent link: https://www.econbiz.de/10012129347
procedure: The procurer awards the contract via a price-only auction and cannot commit not to renegotiate. If cost differences … price exceeds the initial price. Moreover, the procurer cannot benefit from using a multi-dimensional auction, i.e., under … the optimal scoring auction each supplier proposes the standard design. …
Persistent link: https://www.econbiz.de/10011762813
We consider a multi-dimensional procurement problem in which sellers have private information about their costs and about a possible design flaw. The information about the design flaw is necessarily correlated. We solve for the optimal Bayesian procurement mechanism that implements the efficient...
Persistent link: https://www.econbiz.de/10011976063
A number of recent papers have proposed that a pattern of isolated winning bids may be associated with collusion. In contrast, others have suggested that bid clustering, especially of the two lowest bids, is indicative of collusion. In this paper, we present evidence from an actual procurement...
Persistent link: https://www.econbiz.de/10012299673
costs are flaws in the initial design. If the project is procured with a price-only auction, sellers who spotted some of the …
Persistent link: https://www.econbiz.de/10011762526
This paper discusses a capacity-based redispatch mechanism in which awarded market participants are compensated for their availability for redispatch, rather than activation. The rationale is to develop a market design that prevents so-called “inc-dec gaming” when including flexible...
Persistent link: https://www.econbiz.de/10014546505
Auctions with endogenous rationing have been introduced to stimulate competition. Such (procurement) auctions reduce …
Persistent link: https://www.econbiz.de/10012195628