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Optimal Cost Overruns : Procurement Auctions and Renegotiation

Herweg, Fabian - 2016

Cost overrun is ubiquitous in public procurement. We argue that this can be the result of a constraint optimal award procedure when the procurer cannot commit not to renegotiate. If cost differences are more pronounced for more complex designs, it is optimal to fix a simple design ex ante and to...

Persistent link: https://www.econbiz.de/10012993698

Tenure in Office and Public Procurement

Coviello, Decio - 2016

data set on the politics of Italian municipal governments to a data set on the procurement auctions they administered. In … local and that the same firm is awarded repeated auctions. Taken together, our estimates are informative of the possibility …

Persistent link: https://www.econbiz.de/10012994526

An unsuccessful reform on the local public contracts law in Korea

Hwang, Sunjoo - In: KDI-journal of economic policy 43 (2021) 3, pp. 55-77

In Korea, local governments and local agencies had to apply a version of the first price auction augmented by an ex-post screening process when they procure construction contracts. However, this first price auction had been criticized because it was felt that too much price competition could...

Persistent link: https://www.econbiz.de/10012643490

Public Procurement and Supplier Job Creation : Insights from Auctions

Srhoj, Stjepan - 2021

-level. This study exploits sealed-bid PPC auctions of construction works, discontinuity in bidders’ win margin and firms’ daily …

Persistent link: https://www.econbiz.de/10013321732

Ex-post optimal knapsack procurement

Meisner, Vincent; Jarman, Felix - In: Essays in microeconomic theory, (pp. 5-57). 2016

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...

Persistent link: https://www.econbiz.de/10011633851

Procurement auctions with interdependent values and affiliated signals

Balanquit, RM; Kimwell, MJM - 2016

Procurement auctions that assume independent private values (IPV) provide a benchmark for analysis that is readily …

Persistent link: https://www.econbiz.de/10011582261

How government procurement measures can affect trade

Gourdon, Julien; Messent, James - 2017

A number of countries used discriminatory government procurement policies as part of stimulus packages designed to alleviate the effects of the global economic crisis. This paper collates and updates the evidence related to the size of procurement markets, the level of home bias they exhibit,...

Persistent link: https://www.econbiz.de/10011695353

Ex-post optimal knapsack procurement

Jarman, Felix; Meisner, Vincent - 2017

We consider a budget-constrained mechanism designer who selects an optimal set of projects to maximize her utility. Projects may differ in their value for the designer, and their cost is private information. In this allocation problem, the quantity of procured projects is endogenously determined...

Persistent link: https://www.econbiz.de/10011697176

Bid rigging and entry deterrence in public procurement : evidence from an investigation into collusion and corruption in Quebec

Clark, Robert; Coviello, Decio; Gauthier, Jean-Francois; … - 2018

public procurement auctions. Our focus is on Montreal's asphalt industry, where there have been allegations of bid rigging …

Persistent link: https://www.econbiz.de/10011809425

How the auction design influences procurement prices : an experiment

Ehrhart, Karl-Martin; Ott, Marion - 2019

The targeted design of auctions has to take behavioral regularities into account. This paper explores whether …-bid auction and three di erent descending-clock auctions. We assume that a bidder's willingness-to-accept exceeds his willingness … mechanisms influence the reference state and that auctions that foster reference-state shifts lead to lower payments for the …

Persistent link: https://www.econbiz.de/10012150725