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to charge the monopoly price. This paper compares a Demsetz auction, which awards an exclusive contract to the agent … independent of the particular duopoly game played ex post. We apply this condition to three canonical examples procurement …
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We study the optimal regulation of a monopolist when intrinsic efficiency (intrinsic cost) and empire building tendency (marginal utility of output) are private information, but actual cost (the difference between intrinsic cost and effort level) is observable. This is a problem of...
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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 …
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to charge the monopoly price. This paper compares a Demsetz auction, which awards an exclusive contract to the agent … independent of the particular duopoly game played ex post. We apply this condition to three canonical examples procurement …
Persistent link: https://www.econbiz.de/10010369246
The paper studies procurement contracts with pre-project investigations in the presence of adverse selection and moral …
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