use of negotiations as a procurement mechanism in private industry. …For the procurement of complex goods the early exchange of information is important to avoid costly renegotiation ex … post. We show that this is achieved by bilateral negotiations but not by auctions. Negotiations strictly outperforms …

For the procurement of complex goods the early exchange of information is important to avoid costly renegotiation. If …-only auction (discouraging early information exchange) and bilateral negotiations with a preselected seller (reducing competition …). Bilateral negotiations are superior if potential design improvements are important, if renegotiation is particularly costly, and …

use of negotiations as a procurement mechanism in private industry. …For the procurement of complex goods the early exchange of information is important to avoid costly renegotiation ex … post. We show that this is achieved by bilateral negotiations but not by auctions. Negotiations strictly outperforms …

The procurement of complex projects is often plagued by large cost overruns. One important reason for these additional …

For the procurement of complex goods the early exchange of information is important to avoid costly renegotiation. If …-only auction (discouraging early information exchange) and bilateral negotiations with a preselected seller (reducing competition …). Bilateral negotiations are superior if potential design improvements are important, if renegotiation is particularly costly, and …

use of negotiations as a procurement mechanism in private industry. …For the procurement of complex goods the early exchange of information is important to avoid costly renegotiation ex … post. We show that this is achieved by bilateral negotiations but not by auctions. Negotiations strictly outperforms …

use of negotiations as a procurement mechanism in private industry. …For the procurement of complex goods the early exchange of information is important to avoid costly renegotiation ex … post. We show that this is achieved by bilateral negotiations but not by auctions. Negotiations strictly outperforms …

use of negotiations as a procurement mechanism in private industry. …For the procurement of complex goods the early exchange of information is important to avoid costly renegotiation ex … post. We show that this is achieved by bilateral negotiations but not by auctions. Negotiations strictly outperforms …