The literature on public procurement pays great attention to the rules underlying tendering procedures as well as on …

In the presence of cost uncertainty, limited liability introduces the possibility of default in procurement. If … pooling at higher net worth may reduce the cost of procurement even when default is costless for the sponsor. …

, competition and entry in procurement markets. I focus especially on public procurement, which is highly regulated for …

optimal procurement of innovation are considered. Finally, we sketch enforcement and competition policy issues. …

We investigate the effect of corruption on competition in procurement. Our assumption is that the bureaucrat (i.e., the … firms expect to be paying a bribe, a mechanical effect of corruption is to increase the contract price by an amount … corresponding to the anticipated bribe. We show, however, that a key effect of corruption is to facilitate collusion in price …

We study how poor quality of institution, such as corruption in public procurement auction, could hurt welfare. We show … how competition effect could improve the cost-efficiency but not the quality of a public procurement auction with … corruption. In fact, no incentive mechanism can be efficient in this auction if qualities are non-contractible. An empirical …

controversial areas involving arms industries, alternative procurement policies and industrial policy. Arms industries are defined … procurement raises both theory and policy issues. There are principal-agent problems and issues of adverse selection, moral hazard … the role of competition in arms procurement, its extension to military outsourcing and the profitability of non …

Evidence from ongoing procurement and concession contracts shows that time overruns are widespread. Two key elements …, 2013), in which the authors theoretically and empirically investigate some causes of time overruns in public procurement … be paid in the event of delay. The main results are tested on Italian public procurement data and show that the supplier …

In public procurement, a temporal separation of award and actual contracting can frequently be observed. In this paper …, we give an explanation for this institutional setting. For imperfect procurement contracts such a separation may increase …