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Bayesian implementation and rent extraction in a multi-dimensional procurement problem

Herweg, Fabian; Schmidt, Klaus M. - In: International journal of industrial organization 70 (2020), pp. 1-16

Persistent link: https://www.econbiz.de/10012586638

Procurement auctions with interdependent values and affiliated signals

Balanquit, RM; Kimwell, MJM - 2016

expected quantities sold and selling prices of some endogenous-quantity procurement auction formats. The resulting equilibrium … second-price auction yields both higher expected prices and lower expected quantities than the first-price auction. This … result is consistent with similar studies showing suboptimality of auction mechanisms that allow for winning bids of less …

Persistent link: https://www.econbiz.de/10011582261

Bayesian implementation and rent extraction in a multi-dimensional procurement problem

Herweg, Fabian; Schmidt, Klaus M. - 2018

We consider a multi-dimensional procurement problem in which sellers have private information about their costs and about a possible design flaw. The information about the design flaw is necessarily correlated. We solve for the optimal Bayesian procurement mechanism that implements the efficient...

Persistent link: https://www.econbiz.de/10011976063

Optimal cost overruns : procurement auctions and renegotiation

Herweg, Fabian; Schwarz, Marco A. - 2016 - This version: March 18, 2016

a simple design initially enhances competition in the auction. Moreover, the procurer cannot benefit from using a multi …-dimensional auction, as the optimal scoring rule depends only on the price. …

Persistent link: https://www.econbiz.de/10011447525

Public procurement and supplier job creation : insights from auctions

Srhoj, Stjepan; Dragojević, Melko - 2021 - This draft October 4, 2021

Public procurement contracts (PPCs) of goods, services and works is about one tenth of global gross domestic product. Much research has been conducted on government spending and its aggregate effects, but evidence is scarce at the micro-level. This study exploits sealed-bid PPC auctions of...

Persistent link: https://www.econbiz.de/10012627848