and rule-based auction procurement procedures. We show that adopting a two stage approach in which bureaucrats first …

Drawing on the real-options theory we analyse bidding behaviour in a sealed-bid-first-score procurement auction where …

-price sequential and first-price combinatorial bidding. The design of the experiment is based on experiences from a public procurement …The first part of the paper reports the results from a sequence of laboratory experiments comparing the bidding … winning more than one contract, whereas other bidders have increasing average cost functions. The combinatorial bidding …

When procurement contracts are incomplete, they are frequently changed after the contract is awarded to the lowest … to renegotiation. We propose a stylized model of bidding for incomplete contracts and apply it to data from highway … bidding process that are a consequence of transaction costs from contract adaptations. …