We consider procurement of an innovation from heterogeneous sellers. Innovations are random but depend on unobservable … effort and private information. We compare two procurement mechanisms where potential sellers first bid in an auction for …

The paper studies procurement contracts with pre-project investigations in the presence of adverse selection and moral …

When procurement contracts are incomplete, they are frequently changed after the contract is awarded to the lowest …

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 …

The paper provides a tractable, analytical framework to study regulatory risk under optimal incentive regulation …

When procurement contracts are awarded through competitive tendering participating firms commit ex ante to fulfil a set …. We consider a stylized repeated procurement framework in which a buyer awards a contract over time to two firms with …

This paper studies the interaction between financially constrained and financially strong firms on a procurement market …. It characterizes and discusses a procurement agency's optimal response when faced with financially asymmetric firms. By …

For the procurement of complex goods the early exchange of information is important to avoid costly renegotiation. If …

We consider a multi-dimensional procurement problem in which sellers have private information about their costs and … Bayesian procurement mechanism that implements the efficient allocation under the constraint that sellers are protected by …