Aftermarket social welfare is largely determined by a procurement auction design. Auctions select firms for operating … aftermarket social welfare generated by first-price and second-price procurement auctions. It reveals that the social welfare …-price procurement auctions are welfare-equivalent. When it increases (or decreases) with price, first-price (or second-price) auctions …

In public sector procurement, social welfare often depends on the time taken to complete the contract. A leading …

In public sector procurement, social welfare often depends on the time taken to complete the contract. A leading …

In public sector procurement, social welfare often depends on the time taken to complete the contract. A leading …

This paper studies the design of procurement, where a buyer seeks to award a contract to a single supplier. The model … to the literature and are weighted against the benefits of competition. Public procurement regulations entail that …

This paper investigates a procurement relationship between a welfare-oriented government and a private supplier. The … procurement where the buyer maximizes profit rather than welfare. We identify the government's welfare objective as its Achilles …' heel: equilibrium trade prices differ in public and private procurement, and private governance can lead to more efficient …