Similar Search Results

Jarman, Felix; Meisner, Vincent - 2017

We consider a budget-constrained mechanism designer who selects an optimal set of projects to maximize her utility … participation and budget constraints must hold for each possible outcome, while the mechanism must be strategyproof. We identify …

Persistent link: https://www.econbiz.de/10011697176

Procurement with unforeseen contingencies

Herweg, Fabian; Schmidt, Klaus M. - 2017 - This version: October 15, 2017

The procurement of complex projects is often plagued by large cost overruns. One important reason for these additional …

Persistent link: https://www.econbiz.de/10011762526

The quantitative view of Myerson regularity

Schweizer, Nikolaus; Szech, Nora - 2015 - December 2015

In mechanism design, Myerson regularity is often too weak for a quantitative analysis of performance. For instance, ratios between revenue and welfare, or sales probabilities may vanish at the boundary of Myerson regularity. This paper therefore explores the quantitative version of Myerson...

Persistent link: https://www.econbiz.de/10011406392

Revenue maximization with partially verifiable information

Reuter, Marco - 2023 - Last update: November 8, 2023

I consider a seller selling a good to bidders with two-dimensional private information: their valuation for a good and their characteristic. While valuations are non-verifiable, characteristics are partially verifiable and convey information about the distribution of a bidder’s valuation. I...

Persistent link: https://www.econbiz.de/10014440016

Mechanism design for unequal societies

Groh, Carl-Christian; Reuter, Marco - 2023

We study optimal mechanisms for a utilitarian designer who seeks to assign a finite number of goods to a group of ex ante heterogeneous agents with unit demand. The agents have heterogeneous marginal utilities of money, which may naturally arise in environments where agents have different wealth...

Persistent link: https://www.econbiz.de/10014438989

A small volume reduction that melts down the market : auctions with endogenous rationing

Ehrhart, Karl-Martin; Hanke, Ann-Katrin; Ott, Marion - 2020

Auctions with endogenous rationing have been introduced to stimulate competition. Such (procurement) auctions reduce …

Persistent link: https://www.econbiz.de/10012195628

Bayesian implementation and rent extraction in a multi-dimensional procurement problem

Herweg, Fabian; Schmidt, Klaus M. - 2018

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 …

Persistent link: https://www.econbiz.de/10011976063

Optimal cost overruns : procurement auctions with renegotiation

Herweg, Fabian; Schwarz, Marco - 2017

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

Persistent link: https://www.econbiz.de/10011762813

Auctions versus negotiations : the effects of inefficient renegotiation

Herweg, Fabian; Schmidt, Klaus M. - 2017 - This version: January 29, 2017

For the procurement of complex goods the early exchange of information is important to avoid costly renegotiation. If …

Persistent link: https://www.econbiz.de/10011596132

Split-award auctions and supply disruptions

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

auctions. Academic research on multi-sourcing procurement auction typically analyzes these auctions as stand-alone events. In … that might fail to deliver. The buyer conducts a procurement auction to determine contract suppliers and can choose between … plays an important role in procurement practice but attracted little attention in the academic analysis of procurement …

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