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Until recently, government procurement bidding processes have generally favored domestic firms by awarding the contract to a domestic firm even if a foreign firm tenders a lower bid, so long as the difference between the two is sufficiently small. This has been replaced by an agreement...
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strategies. We derive the class of optimal mechanisms and show that it has a deferred acceptance auction representation. This … feature guarantees an implementation with a descending clock auction. Only in the case of symmetric projects do price clocks …
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's uncertainty in auction outcomes. A simple adjustment in the auction mechanism may completely shut down the impact of uncertain …
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