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When the highest bidder loses the auction: theory and evidence from public procurement
Decarolis, Francesco - Banca d'Italia - 2009
default on his bid: augmenting the standard first price auction with an ex-post verification of the responsiveness of the bids … and using an average bid auction. I show that when penalties for defaulting are asymmetric across bidders and when their … valuations are characterized by a predominant common component, the average bid auction is preferred over the standard first …
Persistent link: https://www.econbiz.de/10005029278
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Public procurement design: Lessons from the private sector
Tadelis, Steven - In: International Journal of Industrial Organization 30 (2012) 3, pp. 297-302
Public procurement regulations put constraints on the contracts and award mechanisms that public procurement agencies can use. These constraints are not present in the private sector, and recent studies suggest that the added flexibility in private sector procurement offers efficiency...
Persistent link: https://www.econbiz.de/10010573868
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Public Markets Tailored for the Cartel- Favoritism in Procurement Auctions
Mogiliansky, Ariane Lambert; Kosenok, Grigory - Center for Economic and Financial Research (CEFIR), New … - 2006
a multiple criteria auction, and an auctioneer (a government employee) who has discretion in devising the selection … auction into a symmetric information auction (in bribes) for a common value prize. In a repeated setting we show that … favoritism increases the gains from collusion and contributes to solving basic implementation problems for a cartel of bidders …
Persistent link: https://www.econbiz.de/10005086549
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Collusion mechanisms in procurement auctions: An experimental investigation
Güth, Werner; Brosig, Jeannette; Weiland, Torsten - Max-Planck-Institut für Ökonomik, Max-Planck-Gesellschaft - 2006
auction in how they promote the prospects of collusive arrangements. One mechanism allows bidders to coordinate by means of … opportunity to implement mutual shareholding. According to our results firstprice procurement is quite collusion-proof when …
Persistent link: https://www.econbiz.de/10005765106
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Bidding for Incomplete Contracts: An Empirical Analysis of Adaptation Costs
Bajari, Patrick; Houghton, Stephanie; Tadelis, Steven - In: American Economic Review 104 (2014) 4, pp. 1288-1319
Procurement contracts are often renegotiated because of changes that are required after their execution. Using highway paving contracts we show that renegotiation imposes significant adaptation costs. Reduced form regressions suggest that bidders respond strategically to contractual...
Persistent link: https://www.econbiz.de/10010815559
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Small Business Set-asides in Procurement Auctions: An Empirical Analysis
Nakabayashi, Jun - Institute of Economic Research, Hitotsubashi University - 2010
As part of public procurement, many governments adopt small business programs to provide contract opportunities for businesses often with preferences for firms operated by members of groups designated as disadvantaged. The redistribution arising from such programs, however, can introduce...
Persistent link: https://www.econbiz.de/10008629485
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Small business set-asides in procurement auctions: An empirical analysis
Nakabayashi, Jun - In: Journal of Public Economics 100 (2013) C, pp. 28-44
nonparametric estimation of an asymmetric first-price auction model with affiliated private values, a counterfactual analysis is …
Persistent link: https://www.econbiz.de/10010636476
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Procurement Contracting with Time Incentives: Theory and Evidence
Bajari, Patrick; Lewis, Gregory - National Bureau of Economic Research (NBER) - 2009
In public sector procurement, social welfare often depends on the time taken to complete the contract. A leading example is highway construction, where slow completion times inflict a negative externality on commuters. Recently, highway departments have introduced innovative contracting methods...
Persistent link: https://www.econbiz.de/10005575490
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Survival of contractors with previous subcontracting experience
Silva, Dakshina G. De; Kosmopoulou, Georgia; Lamarche, … - In: Economics Letters 117 (2012) 1, pp. 7-9
We examine the impact of the type of past experience for de novo contractors on business duration. Our results show that early involvement as a subcontractor in government procurement projects increases the chance of survival.
Persistent link: https://www.econbiz.de/10010580498
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Selezione dei fornitori e incentivi alla rinegoziazione in contratti incompleti:;rilevanza empirica nel settore dei lavori pubblici
GUCCIO, Calogero; PIGNATARO, Giacomo; RIZZO, Ilde - In: Rivista Italiana degli Economisti 14 (2009) 2, pp. 311-344
procedures (i.e. negotiation vs auction) on the contract renegotiation in the public work sector. The results show that, in …
Persistent link: https://www.econbiz.de/10008629820