This paper deals with a Niskanen type of public-procurement agency. It is shown that the procurement game should be … which refers to both investment and production. Welfare-optimal procurement of the project can be attained under relatively …

This paper investigates a procurement relationship between a welfare-oriented government and a private supplier. The … procurement where the buyer maximizes profit rather than welfare. We identify the government's welfare objective as its Achilles …' heel: equilibrium trade prices differ in public and private procurement, and private governance can lead to more efficient …

In public procurement a temporal separation of award and actual contracting can frequently be observed. In this paper … we give an explanation for this institutional setting. For incomplete procurement contracts we show that such a … post-award, pre-contract rent-seeking activities also increase efficiency. This is always the case if the procurement …

This paper deals with a Niskanen type of public-procurement agency. It is shown that the procurement game should be … which refers to both investment and production. Welfare-optimal procurement of the project can be attained under relatively …