economics ; incomplete contracts ; construction ; agency theory ; industry studies ; outsourcing ; procurement …

part of government procurement auctions for over three decades. In this paper, we examine the impact of a program that … requires prime contractors to subcontract out a portion of a highway procurement project to DBE firms. We study how DBE …

Infrastructure has particular challenges in public procurement, because it is highly complex and customized and often … important economic theories that could guide governments to wise decision-making at each stage. Theory suggests that in general …, such as fixed-price contracts. However, this holds under certain conditions. Theory also shows that ownership should be …