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Incomplete contracts in dynamic procurement

Gretschko, Vitali; Pollrich, Martin - 2019

We analyze the problem of a buyer who purchases a long-term project from one of several suppliers. A changing state of the world influences the costs of the suppliers. Complete contracts conditioning on all future realizations of the state are infeasible. We show that contractual incompleteness...

Persistent link: https://www.econbiz.de/10012105726

Supplier search and re-matching in global sourcing : theory and evidence from China

Defever, Fabrice; Fischer, Christian; Südekum, Jens - 2017

Persistent link: https://www.econbiz.de/10011878403

Portfolio liquidation under factor uncertainty

Horst, Ulrich; Xia, Xiaonyu; Zhou, Chao - 2021

We study an optimal liquidation problem under the ambiguity with respect to price impact parameters. Our main results show that the value function and the optimal trading strategy can be characterized by the solution to a semi-linear PDE with superlinear gradient, monotone generator and singular...

Persistent link: https://www.econbiz.de/10012500352

Portfolioauswahl bei Besteuerung realisierter Kursänderungen

Lorenz, Daniela - 2010

Persistent link: https://www.econbiz.de/10003989037

Split-award auctions and supply disruptions

Fugger, Nicolas; Laitenberger, Ulrich - 2020 - This version: December 21, 2020

that might fail to deliver. The buyer conducts a procurement auction to determine contract suppliers and can choose between …-maximizing suppliers who might fail to deliver. The buyer conducts a procurement auction to determine contract suppliers and can choose … single-sourcing and multi-sourcing. If contract suppliers fail to deliver, the buyer tries to source from non-contract …

Persistent link: https://www.econbiz.de/10012388963

Deterministic versus stochastic contracts in a dynamic principal-agent model

Mettral, Thomas - 2018

I show that deterministic dynamic contracts between a principal and an agent are always at least as profitable to the principal as stochastic ones, if the so-called first-order approach in dynamic mechanism design is satisfied. The principal commits, while the agent's type evolution follows a...

Persistent link: https://www.econbiz.de/10011901976

Stochastic contracts and subjective evaluations

Lang, Matthias - 2022

Subjective evaluations are widely used, but call for different contracts from classical moral-hazard settings. Previous literature shows that contracts require payments to third parties. I show that the (implicit) assumption of deterministic contracts makes payments to third parties necessary....

Persistent link: https://www.econbiz.de/10014458796

International buyers' sourcing and suppliers' markups in Bangladeshi garments

Cajal-Grossi, Julia; Macchiavello, Rocco; Noguera, Guillermo - 2019

Persistent link: https://www.econbiz.de/10011961227

Inter-cohort risk sharing with long-term guarantees : evidence from German participating contracts

Hombert, Johan; Möhlmann, Axel; Weiß, Matthias - 2021

Long-term minimum return guarantees sold by European life insurers increasingly become binding as interest rates decline. While participating contracts embedding these guarantees are designed to share market risk across investor cohorts when guarantees are not binding, we study how binding...

Persistent link: https://www.econbiz.de/10012497374

A dynamic programming approach to optimal pollution control under uncertain irreversibility : the Poisson case

Boucekkine, Raouf; Ruan, Weihua; Zou, Benteng - 2022

Persistent link: https://www.econbiz.de/10013407553

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