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We contribute to the literature on the optimal design of auction mechanisms for the procurement of nature conservation … decreases with repetition. Theory predicts that repetition facilitates collusion among sellers in procurement auctions, while …
Persistent link: https://www.econbiz.de/10011932593
Many organizations use procurement tenders to buy large amounts of goods and services. Especially in the public sector … the use of these reverse auctions has grown rapidly over the past decades. For the (reverse) unit price auction experience … competition, incentives in unit price auction change in such a way that can make bid skewing disappear. …
Persistent link: https://www.econbiz.de/10011386002
claim that market competition andbidding in an auction should be analyzed as part of one game, where the pricingstrategies …
Persistent link: https://www.econbiz.de/10011333269
In procurement auctions, bidders are usually better informed about technical, financial, or legal aspects of the goods … and services procured. Therefore, the buyer may include a dialogue in the procurement procedure which enables the … question of the value added of letting the sourcing process consist of both an auction and a negotiation stage, theoretically …
Persistent link: https://www.econbiz.de/10012167341
. We do so in procurement settings where the buyer can give the winning bidder incentives to exert effort on non …-price dimensions after the auction. Both auctions theoretically implement the surplus maximizing mechanism. Our experiment confirms …
Persistent link: https://www.econbiz.de/10011379431
Aftermarket social welfare is largely determined by a procurement auction design. Auctions select firms for operating … aftermarket social welfare generated by first-price and second-price procurement auctions. It reveals that the social welfare …-price procurement auctions are welfare-equivalent. When it increases (or decreases) with price, first-price (or second-price) auctions …
Persistent link: https://www.econbiz.de/10014446446
group of citizens should a corrupt government official favor? In addition,what should be the basis for this favoritism? To … citizens. Next, we show that the nature of this favoritism depends not only on the bribes receivedby the corrupt government …
Persistent link: https://www.econbiz.de/10011334851
This article analyzes the role of suggested prices in the Dutch retail market for gasoline. Suggested prices are announced by large oil companies with the suggestion that retailers follow them. There are at least two competing rationales for the existence of suggested prices: they may either...
Persistent link: https://www.econbiz.de/10011377385
This paper shows how price leadership bans imposed, as part of the European Commission's State aid control, on all main mortgage providers but the largest bank shifted the Dutch mortgage market from a competitive to a collusive price leadership equilibrium. In May 2009, mortgage rates in The...
Persistent link: https://www.econbiz.de/10011979609
We examine recent claims that a particular Q-learning algorithm used by competitors 'autonomously' and systematically learns to collude, resulting in supracompetitive prices and extra profits for the firms sustained by collusive equilibria. A detailed analysis of the inner workings of this...
Persistent link: https://www.econbiz.de/10013375353