procurement auction formats can take advantage of bidders' willingness-to-pay-willingness-to-accept disparity. In a laboratory … experiment, we compare four different second-price auction formats for procuring a good. The four formats are a sealed …-bid auction and three di erent descending-clock auctions. We assume that a bidder's willingness-to-accept exceeds his willingness …

We consider a multi-dimensional procurement problem in which sellers have private information about their costs and … Bayesian procurement mechanism that implements the efficient allocation under the constraint that sellers are protected by …

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 …

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

and quantifies the impact of procurement spending - a specific component of G - on firm survival. We find that firms that …

payment rule. Secondly, we introduce a simple two-stage mechanism which always leads to a decrease in procurement costs … compared to any single-stage auction. Finally we derive the optimal efficient two-stage mechanism. …

In Buy-It-Now auctions, sellers can post a take-it-or-leave-it price offer prior to an auction. While the literature …

that might fail to deliver. The buyer conducts a procurement auction to determine contract suppliers and can choose between … auctions. Academic research on multi-sourcing procurement auction typically analyzes these auctions as stand-alone events. In …-maximizing suppliers who might fail to deliver. The buyer conducts a procurement auction to determine contract suppliers and can choose …

The procurement of complex projects is often plagued by large cost overruns. One important reason for these additional … costs are flaws in the initial design. If the project is procured with a price-only auction, sellers who spotted some of the …

outcomes. We focus on a major public sector activity and survey more than 900 real-life procurement officials in Finland and …