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 …

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 …

Partly motivated by the recent antitrust investigations concerning Google, we develop a leverage theory of tying in two …