En este trabajo analizamos la normativa española concerniente al problema de las bajas temerarias en las subastas de obras publicas, tomando como marco de referencia un modelo teórico desarrollado en Calveras, Ganuza y Hauk (2001). Después de exponer este modelo de bajas temerarias (basado en...

In the presence of cost uncertainty, limited liability introduces the possibility of default in procurement with its associated bankruptcy costs. When financial soundness is not perfectly observable, we show that incentive compatibility implies that financially less sound contractors are...

In the presence of cost uncertainty, limited liability introduces the possibility of default in procurement. If financial soundness is not perfectly observable, then financially weaker contractors are selected with higher probability in any incentive compatible mechanism. Informational rents are...