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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 …
Persistent link: https://www.econbiz.de/10010317661
We show that privatization can be beneficial even if the government is rational and benevolent, and if the firm's economic and informational environment is independent of the governance structure. The model assumes that wage contracts between the firm's owner (government or private entrepreneur)...
Persistent link: https://www.econbiz.de/10011335738
The paper studies a generic bilateral trade model with relationship-specific investments. Only the seller invests, and subsequent trade becomes inefficient if his investments are too low. We show that the seller may defect strategically under a fixed-price contract even though he attains any...
Persistent link: https://www.econbiz.de/10010317687
When procurement contracts are incomplete, they are frequently changed after the contract is awarded to the lowest …
Persistent link: https://www.econbiz.de/10011325015
US federal agency, we investigate how officer workload impacts innovation procurement outcomes. Unanticipated retirement …
Persistent link: https://www.econbiz.de/10014469869
We analyze the problem of a buyer who purchases a long-term project from one of several suppliers. A changing state of the world influences the costs of the suppliers. Complete contracts conditioning on all future realizations of the state are infeasible. We show that contractual incompleteness...
Persistent link: https://www.econbiz.de/10012105660
, competition and entry in procurement markets. I focus especially on public procurement, which is highly regulated for …
Persistent link: https://www.econbiz.de/10012110641
produced in-house. However, procurement may foster performance-improving innovation. We assemble a large data set on elderly … subjectively perceived quality of service. We estimate how procurement from private providers affects these measures using a … difference-in-difference approach. The results indicate that procurement significantly increases non-contractible quality as …
Persistent link: https://www.econbiz.de/10012110646
procurement. There is widespread concern among regulators that favoring suppliers with good past performance, a standard practice … in private procurement, may hinder entry by new (smaller or foreign) firms in public procurement markets. Our results …
Persistent link: https://www.econbiz.de/10012110648
Hybrid governance structures between markets and hierarchies in many industries, e.g., in energy and telecommunications, challenge antitrust and regulation policy. The paper focuses on the theoretical and methodological basis provided by the New Institutional Economics (NIE) for analyzing the...
Persistent link: https://www.econbiz.de/10010283001