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Auctioning incentive contracts : an experimental study
Onderstal, Sander; Meerendonk, Arthur van de - 2009
. We do so in procurement settings where the buyer can give the winning bidder incentives to exert effort on non … theory and in the lab (after accounting for learning effects). …
Persistent link: https://www.econbiz.de/10011379431
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Inverse adverse selection : the market for gems
Dari Mattiacci, Giuseppe; Onderstal, Sander; Parisi, … - 2010
This paper studies markets plagued with asymmetric information on the quality of traded goods. In Akerlof's setting, sellers are better informed than buyers. In contrast, we examine cases where buyers are better informed than sellers. This creates an inverse adverse selection problem: The market...
Persistent link: https://www.econbiz.de/10011382752
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Leniency bias in long-term workplace relationships
Tichem, Jan - 2013
This paper studies how firms can efficiently incentivize supervisors to truthfully report employee performance. To this end, I develop a dynamic principal-supervisor-agent model. The supervisor is either selfish or altruistic towards the agent, which is observable to the agent but not to the...
Persistent link: https://www.econbiz.de/10010226565
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Balancing the bids, solutions for unit price auctions
Renes, Sander - 2011
as well as theory have shown that they can attract skewed/unbalanced bids, i.e. bids where the price structure is … competition, incentives in unit price auction change in such a way that can make bid skewing disappear. …
Persistent link: https://www.econbiz.de/10011386002
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The impact of scoring weights on price and quality outcomes : an application to the procurement of welfare-to-work contracts
Koning, Pierre; Meerendonk, Arthur van de - 2013
Persistent link: https://www.econbiz.de/10010191400
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Cheap-talk communication in procurement auctions : theory and experiment
Onderstal, Sander; Yang, Yang - 2020
suppliers to reveal information that will help the buyer to better specify the terms of the contract. This paper addresses the … aligned interests regarding the terms of the contract, allowing the winning supplier to communicate with the buyer after the …
Persistent link: https://www.econbiz.de/10012167341
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Aftermarket welfare and procurement auctions
Karamychev, Vladimir A. - 2023 - This Version: December 17, 2023
Aftermarket social welfare is largely determined by a procurement auction design. Auctions select firms for operating aftermarkets, and auctions may also impose restrictions on aftermarket prices the winner can charge. This paper compares aftermarket social welfare generated by first-price and...
Persistent link: https://www.econbiz.de/10014446446
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Peer evaluation : incentives and co-worker relations
Sol, Joeri - 2010
truthful. Still, the principal will always include such a bonus in the optimal contract, and possibly complement it with a team … bonus. Co-worker relations have non-monotic effects on profits in the optimal contract. …
Persistent link: https://www.econbiz.de/10011380732
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Optimal incentives without expected utility
Gonzalez Jimenez, Victor H. - 2022
, the strength of the incentives included in the optimal contract, and the location of incentives on the output space. Our …This paper investigates the optimal design of incentives when agents distort probabilities. We show that the type of … probability distortion displayed by the agent and its degree determine whether an incentivecompatible contract can be implemented …
Persistent link: https://www.econbiz.de/10013460007
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The unique-lowest sealed-bid auction
Houba, Harold; Laan, Dinard van der; Veldhuizen, Dirk - 2008
Unique-lowest sealed-bid auctions are auctions in which participation is endogenous and the winning bid is the lowest bid among all unique bids. Such auctions admit very many Nash equilibria (NEs) in pure and mixed strategies. The two-bidders' auction is similar to the Hawk-Dove game, which...
Persistent link: https://www.econbiz.de/10011374396