We study optimal procurement in the presence of default risk. Contractors differ in the penalty they suffer in case of …

This paper analyzes the problem of abnormally low tenders in the procurement process. Limited liability causes firms in … a bad financial situation to bid more aggressively than good firms in the procurement auction. Therefore, it is more … the optimal surety bond and show that it does not coincide with the current US regulation. In particular we show that …

This paper analyses multi-period regulation or procurement policies under asymmetric information between the regulator …

transport des matières dangereuses) est déléguée à des entreprises privées. <P> This paper analyses multi-period regulation or … procurement policies under asymmetricinformation-between the regulator and regulated firms within the general framework developed …

In the presence of cost uncertainty, limited liability introduces the possibility of default in procurement with its … procurement even when default is costless for the sponsor. …

When procurement takes place in the presence of horizontally differentiated contractors, the design of the object being … procured affects the resulting degree of competition. This paper highlights the interaction between the optimal procurement …

In the presence of cost uncertainty, limited liability introduces the possibility of default in procurement with its … procurement even when default is costless for the sponsor. …

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 …

In the presence of cost uncertainty, limited liability introduces the possibility of default in procurement. If … pooling at higher net worth may reduce the cost of procurement even when default is costless for the sponsor. …