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As a selling mechanism, auctions have acquired a central position in the free market economy all over the globe. This … development has deepened, broadened, and expanded the theory of auctions in new directions. This chapter is intended as a …
Persistent link: https://www.econbiz.de/10011107706
We empirically assess the winner’s curse effect in auctions for toll road concessions. First, we investigate the …
Persistent link: https://www.econbiz.de/10005059108
The theoretical and empirical literature on water supply and sewerage liberalization is reviewed in this paper in order to discuss the potential for market creation and private sector involvement in this sector. The analysis is framed in the “policy roadmap” developed by regulatory economics...
Persistent link: https://www.econbiz.de/10005837319
This paper studies the government procurement of services from foreign suppliers by conducting a statistical analysis of data submitted by Japan and Switzerland to the WTO's Committee on Government Procurement. Using several metrics, the paper examines whether the WTO’s Agreement on Government...
Persistent link: https://www.econbiz.de/10009251548
This paper aims at analysing the procurement of public works paying attention to the level of government involved. Such an issue has not received so far attention in the literature on fiscal federalism nor in the public works procurement literature. We focus the attention upon the execution...
Persistent link: https://www.econbiz.de/10005040706
This paper studies the relevance of the different factors that influence, at the territorial level, efficiency in the market for public infrastructures in Italy.
Persistent link: https://www.econbiz.de/10008871310
The paper presents a theoretical model with bureaucratic corruption where bribe income can leak out of an economy. In such an economy given its perception about the extent of leakage the government sets the price of public services required for entrepreneurship by maximizing the welfare of the...
Persistent link: https://www.econbiz.de/10011110700
This paper models a contest where several sellers compete for a contract with a single buyer. There are several styles of possible designs with a subset of them preferred by the buyer. We examine what happens when the buyer communicates information about his preferences. If the sellers are...
Persistent link: https://www.econbiz.de/10008472230
We propose a new procurement procedure which allocates shares of the total amount to be procured depending on the bids of suppliers. Among the properties of the mechanism are: (i) Bidders have an incentive to participate in the procurement procedure, as equilibrium payoffs are strictly positive....
Persistent link: https://www.econbiz.de/10009151597
We provide a comparison of bidding behavior between multi-round and single-round auctions considering bid lettings for …
Persistent link: https://www.econbiz.de/10008765654