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Iossa, Elisabetta; Rey, Patrick; Waterson, Michael - 2019

The paper studies competition for the market in a setting where incumbents (and, to a lesser extent, neighboring incumbents) benefit from a cost advantage. The paper first compares the outcome of staggered and synchronous tenders, before drawing the implications for market design. We find that...

Persistent link: https://www.econbiz.de/10012414922

Cost uncertainty and time overruns in public procurement : a scoring auction for a contract with delay penalties

Dosi, Cesare; Moretto, Michele - 2017

suppliers, facing variable production costs, must simultaneously report the contract price and the cost level at which they …

Persistent link: https://www.econbiz.de/10011599251

Taking the lab to the field : experimental tests of alternative mechanisms to procure multiple contracts

Lunander, Anders; Nilsson, Jan-Eric - 2003

winning more than one contract, whereas other bidders have increasing average cost functions. The combinatorial bidding …

Persistent link: https://www.econbiz.de/10011591112

When the Highest Bidder Loses the Auction

Decarolis, Francesco - 2019

In this paper I study two methods often used in public procurement to deal with the risk that the winning bidder may default on his bid: augmenting the standard first price auction with an ex-post verification of the responsiveness of the bids and using an average bid auction. I show that when...

Persistent link: https://www.econbiz.de/10014045886

Front-Running, Smart Contracts, and Candle Auctions

Häfner, Samuel; Stewart, Alistair - 2021

Blockchain implementations of auctions have to deal with the problem of front-running: block production happens at discrete intervals, and anyone can inspect and react to the incoming bids before they are written on chain. The presence of smart contracts among bidders, a hallmark of automated...

Persistent link: https://www.econbiz.de/10013227449

Optimal procurement mechanisms : bidding on price and damages for breach

Chillemi, Ottorino; Mezzetti, Claudio - In: Economic theory : official journal of the Society for … 55 (2014) 2, pp. 335-355

Persistent link: https://www.econbiz.de/10010250100

Choosing the sharing rate for incentive contracts

Goel, Rajeev K. - In: The American economist : journal of Omnicron Delta … 39 (1995) 2, pp. 68-72

Persistent link: https://www.econbiz.de/10001202373

Bidding for incentive contracts

Julien, Benoît; Roger, Guillaume - In: Journal of mathematical economics 79 (2018), pp. 95-105

Persistent link: https://www.econbiz.de/10012105615

Bundling incentives in (many-to-many) matching with contracts

Ma, Jonathan; Kominers, Scott Duke - 2018

In many-to-many matching with contracts, the way in which contracts are specified can affect the set of stable equilibrium outcomes. Consequently, agents may be incentivized to modify the set of contracts upfront. We consider one simple way in which agents may do so: unilateral bundling, in...

Persistent link: https://www.econbiz.de/10012013224

Flexible-Term Contracts for Road Franchising

Nombela, Gustavo; de Rus, Gines - 2005

concession contract, which allows a private firm to charge tolls to road users during a pre-determined period in order to recover … to the government, or minimum term to hold the contract. This paper discusses, in the context of road franchising, how … this mechanism does not generally yield optimal outcomes and it induces the frequent contract renegotiations observed in …

Persistent link: https://www.econbiz.de/10014067290