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the only means by which the integrity of such procurement processes can be undermined; individuals with purchasing …
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This paper analyzes the design of innovation contests when the quality of an innovation depends on the research approach of the supplier, but the best approach is unknown. Diversity of approaches is desirable because it generates an option value. In our main model with two suppliers, the buyer...
Persistent link: https://www.econbiz.de/10011410264
This paper analyzes the design of innovation contests when the quality of an innovation depends on the research approach of the supplier, but the best approach is unknown. Diversity of approaches is beneficial because of the resulting option value. An auction induces the social optimum, while a...
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We propose a new procurement procedure which allocates shares of the total amount to be procured depending on the bids … of suppliers. Among the properties of the mechanism are:(i) Bidders have an incentive to participate in the procurement …, procurement expenditures might be lower than under a classical auction format …
Persistent link: https://www.econbiz.de/10013122719
We study the effects of corruption on equilibrium competition and social welfare in a first-price public procurement … equilibrium competition and social welfare vary across different forms of bribery. In the case of fixed bribe, corruption has no … effect on equilibrium competition, yet does induce social welfare loss due to the distortion cost of increased public …
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