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We present a new dynamic auction for procurement problems where payments are bounded by a hard budget constraint and …
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The paper studies procurement contracts with pre-project investigations in the presence of adverse selection and moral …
Persistent link: https://www.econbiz.de/10003935679
A budget-constrained buyer wants to purchase items from a shortlisted set. Items are differentiated by quality and sellers have private reserve prices for their items. Sellers quote prices strategically, inducing a knapsack game. The buyer's problem is to select a subset of maximal quality. We...
Persistent link: https://www.econbiz.de/10003832684
A budget-constrained buyer wants to purchase items from a shortlisted set. Items are differentiated by quality and sellers have private reserve prices for their items. Sellers quote prices strategically, inducing a knapsack game. The buyer's problem is to select a subset of maximal quality. We...
Persistent link: https://www.econbiz.de/10003848830
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The procurement of complex projects is often plagued by large cost overruns. One important reason for these additional …
Persistent link: https://www.econbiz.de/10011762526