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

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

behavior for multiple contracts in three different sealed bid auction mechanisms; first-price simultaneous, first … auction of road markings in Sweden. Bidders are asymmetric in their cost functions; some exhibit decreasing average costs of … a field test of a combinatorial procurement auction of road markings. …

-unit, multi-bid uniform auction, modelled as a Bayesian game of incomplete information. At the auction each firm anticipates his … as their bidding strategies and it precludes the auction from generating a cost-effective allocation of permits, as it … would occur in simpler auction models. Auctioning tends to be more cost-effective than grandfathering when the firms' costs …