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This paper presents evidence on the perverse trade-off that first price auctions induce between low prices at the awarding stage and poor ex post performance when bids are not binding commitments. By exploiting the different timing with which first price auctions were introduced in Italy to...
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through an open auction. Works below this threshold can be more easily awarded through a restricted auction, where the buyer …
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that, in line with the robust predictions of auction theory, an increase in reserve price decreases the number of bidders … auction outcomes. To establish causality, we exploit multiple discontinuities in the relationship between reserve prices and … vehicle characteristics to present RD estimates of reserve price effects on auction outcomes. Our first set of results show …
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Britain’s vote on June 23, 2016, to leave the European Union could have a profound impact on public procurement law, both in Europe and internationally. Brexit’s impact may not be catastrophic; for example, the United Kingdom may choose to remain in the European Economic Area, which would...
Persistent link: https://www.econbiz.de/10014126566
In 2016, the World Bank formally implemented a massive reform of the guidance it applies to procurements conducted under World Bank-financed projects. Because of the prominent role that the World Bank plays in shaping procurement policy, the Bank’s procurement reforms have had a profound...
Persistent link: https://www.econbiz.de/10014111950
The European Commission co-funds public projects through the European Structural and Investment Funds (ESIF) to stimulate the sustainable economic development of EU Member States. The ESIF budget is about 90 billion euros annually and ESIF beneficiaries are explicitly encouraged to increase...
Persistent link: https://www.econbiz.de/10015045173