We present a new dynamic auction for procurement problems where payments are bounded by a hard budget constraint and …

A budget-constrained buyer wants to purchase items from a short-listed set. Items are differentiated by observable …

’ financial constraints are private information. The literature has recommended the use of auctions in order to reduce information … procurement problem. This auction is strategically simple, as it exhibits truthtelling in dominant strategies and satisfies ex …-post rationality, while observing the budget constraint. We test the auction in Monte-Carlo simulation and discuss its applicability …

This paper considers procurement auctions with costly bidding when the auctioneer is unable to commit himself to …

A budget-constrained buyer wants to purchase items from a shortlisted set. Items are differentiated by quality and …

A principal uses security bid auctions to award an incentive contract to one among several agents, in the presence of … outperform all other auctions, although it cannot extract the entire surplus implement efficient effort. Hence, profit sharing …

licensing without reducing bidders’ surplus; therefore, it is more profitable than both standard license auctions and pure …

of combining auctions and royalty contracts for losers. …