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In many auctions, the auctioneer is an agent of the seller. This delegation invites corruption. In this paper we propose a model of corruption, examine how corruption affects the auction game, how the anticipation of corruption affects bidding, and how it altogether changes the revenue ranking...
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implies that transaction costs as part of total costs of ownership carry a large weight in procurement decisions. An analysis …
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We analyse procurement auctions in which sellers are distinguished on the basis of the ratios of quality per unit of …
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