should be efficiently allocated between the public and the private sector. Nevertheless, the considerable bidding costs … procurement model and heuristically approximates the Markov perfect equilibrium in which contractors determine how much money they … of projects pushes down the mark-ups and the government procurement cost. Nonetheless, according to the experiments, it …

In procurement auctions, bidders are usually better informed about technical, financial, or legal aspects of the goods … and services procured. Therefore, the buyer may include a dialogue in the procurement procedure which enables the …

Procurement auctions are sometimes plagued with a chosen supplier's failing to accomplish a project successfully. The … the project can only be evaluated at the end. To manage such uncertainty, a model of competitive procurement and … probabilities is huge. We show that, compared to standard auctions, the procurement auctions with contingent contracts can …

The procurement of complex projects is often plagued by large cost overruns. One important reason for these additional …

This paper examines bidding behavior in a setting where post-bid-letting project modifications occur. These … shows that bidders incorporate the likelihood of such changes in contracts into their bidding strategies. In particular … modifications. This paper extends this literature by examining bidding behavior and project modifications in Texas, where there has …