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We consider a budget-constrained mechanism designer who selects an optimal set of projects to maximize her utility. A project's cost is private information and its value for the designer may vary. In this allocation problem, the selection of projects - both which and how many - is endogenously...
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This paper analyses multi-period regulation or procurement policies under asymmetric information between the regulator …
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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. …
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The literature on public procurement pays great attention to the rules underlying tendering procedures as well as on …
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