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When can lotteries improve public procurement processes?
Estache, Antonio; Foucart, Renaud; Serebrisky, Tomás - 2022
We study the potential benefits of adding a lottery component to cut the main risks associated with standard negotiated and rule-based auction procurement procedures. We show that adopting a two stage approach in which bureaucrats first negotiate with a small number of bidders to assess their...
Persistent link: https://www.econbiz.de/10014493870
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Equilibrium in scoring auctions
Asker, John; Cantillon, Estelle - 2004
This paper studies multi-attribute auctions in which a buyer seeks to procure a complex good and evaluate offers using … kinds of results. First, we characterize the set of equilibria in quasi-linear scoring auctions with multi-dimensional types …. In particular, we show that there exists a mapping between the class of equilibria in these scoring auctions and those in …
Persistent link: https://www.econbiz.de/10011607201
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Cost uncertainty and time overruns in public procurement : a scoring auction for a contract with delay penalties
Dosi, Cesare; Moretto, Michele - 2017
Drawing on the real-options theory we analyse bidding behaviour in a sealed-bid-first-score procurement auction where suppliers, facing variable production costs, must simultaneously report the contract price and the cost level at which they intend to perform the project. We show that this award...
Persistent link: https://www.econbiz.de/10011599251
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Time overruns as opportunistic behavior in public procurement
D'Alpaos, Chiara; Moretto, Michele; Valbonesi, Paola; … - 2012
This paper considers the supplier's strategic delivery lead time in a public procurement setting as the result of the firm's opportunistic behaviour on the optimal investment timing. In the presence of uncertainty on construction costs, we model the supplier's option to defer the contract's...
Persistent link: https://www.econbiz.de/10009634269
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Auctioning monopoly franchises : award criteria and service launch requirements
Moretto, Michele; Dosi, Cesare - 2009
the concessioning conditions. -- Concessions ; Auctions ; Award criteria ; Service Rollout Time limits …
Persistent link: https://www.econbiz.de/10008810289
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It is never too late : optimal penalty for investment delay in Italian public procurement contracts
D'Alpaos, Chiara; Moretto, Michele; Valbonesi, Paola; … - 2009
We provide a general framework in which to determine the optimal penalty fee inducing the contractor to respect the contracted delivery date in public procurement contracts (PPCs). We do this by developing a real option model that enables us to investigate the contractor's value of investment...
Persistent link: https://www.econbiz.de/10008823913
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More information, lower price? : access to market-based reference prices and gains in public procurement efficiency
Martinez-Carrrasco, José; Conceição, Otávio Canozzi; … - 2023
The paper examines the impact of providing market-based reference prices on public procurement efficiency in Brazil. Specifically, the study focuses on the State Secretariat of Health (SES) in Rio Grande do Sul and the algorithm developed by the local tax administration to calculate...
Persistent link: https://www.econbiz.de/10014461496
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Auctioning vs. grandfathering in cap-and-trade systems with market power and incomplete information
Alvarez González, Francisco; Jarque Andrés, Francisco - 2013
We compare auctioning and grandfathering as allocation mechanisms of emission permits when there is a secondary market with market power and the firms have private information. Based on real-life cases such as the EU ETS, we consider a multi-unit, multi-bid uniform auction, modelled as a...
Persistent link: https://www.econbiz.de/10010226080
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Auction mechanisms and bidder collusion : bribes, signals and selection
Llorente-Saguer, Aniol; Zultan, Ro’i - 2014 - This version: November 20, 2014
The theoretical literature on collusion in auctions suggests that the first-price mechanism can deter the formation of … likely to affect the bidding behavior in first-price (but not second-price) auctions. We test experimentally a setup in which … collusion in first-price and second-price auctions. Furthermore, failed collusion attempts distort the bidding behavior in the …
Persistent link: https://www.econbiz.de/10010472820
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Late and multiple bidding in competing second price
Stryszowska, Marta - 2004
Internet auctions, such as those on eBay, are known for multiple bidding and sniping. Buyers send bids in the closing … both sniping and multiple bidding. By submitting multiple bids, buyers co-ordinate between auctions, so that all objects …
Persistent link: https://www.econbiz.de/10011599306