preserving consumer choice among firms. We study the role of procurement auctions - leading to sole provision by the winning firm … insurance in the US. We find that procurement auctions would increase consumer welfare in most markets, mainly by limiting …

This paper studies A+B (cost-plus-time) procurement contracting with time incentives in the highway construction … completion time, and the A+B contract design is not ex post efficient. Using data from highway procurement contracts in …

This paper studies cost-plus-time (A+B) procurement contracting with time incentives in the highway construction … completion time, and the A+B contract design is not ex-post efficient. Using data from highway procurement contracts in …

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 …

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 …

procurement - the risk that providers win too few contracts to cover fixed infrastructure costs. Using a bounds approach, we show …We study a new market design for K-12 school broadband procurement that switched from school-specific bidding to a …% per Mbps per month while increasing bandwidth by 500%. These benefits occurred by mitigating exposure risk in broadband …