. We consider a stylized repeated procurement framework in which a buyer awards a contract over time to two firms with …When procurement contracts are awarded through competitive tendering participating firms commit ex ante to fulfil a set …

Procurement auctions are sometimes plagued with a chosen supplier's failing to accomplish a project successfully. The … the project can only be evaluated at the end. To manage such uncertainty, a model of competitive procurement and … probabilities is huge. We show that, compared to standard auctions, the procurement auctions with contingent contracts can …