This paper studies A+B (cost-plus-time) procurement contracting with time incentives in the highway construction … completion time, and the A+B contract design is not ex post efficient. Using data from highway procurement contracts in … industry. In the presence of construction uncertainty, the contractor's actual completion time may deviate from the bid …

This paper studies cost-plus-time (A+B) procurement contracting with time incentives in the highway construction … completion time, and the A+B contract design is not ex-post efficient. Using data from highway procurement contracts in … industry. In the presence of construction uncertainty, the contractor’s actual completion time may deviate from the bid …

In public sector procurement, social welfare often depends on the time taken to complete the contract. A leading … departments have introduced innovative contracting methods based on scoring auctions that give contractors explicit time …

In public sector procurement, social welfare often depends on the time taken to complete the contract. A leading … departments have introduced innovative contracting methods based on scoring auctions that give contractors explicit time …

In procurement auctions, there are situations where a bidder's cost is uncertain at the time of bidding, leading to a … winner's curse also affects entry, which can have serious implications for procurement costs and efficiency. We find that the …

We compare two procurement mechanisms, bundling and unbundling, in a two-stage auction model with risk-averse suppliers …

This paper studies the design of procurement, where a buyer seeks to award a contract to a single supplier. The model … to the literature and are weighted against the benefits of competition. Public procurement regulations entail that …

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 …