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preferences of 900+ real-world public procurement officials in Finland and Germany. This is an important pursuit as they report … importance of multiple features of procurement outcomes. Officials prioritize avoiding unexpectedly high prices but not seeking …
Persistent link: https://www.econbiz.de/10014263185
procurement auction with asymmetric bidders. We adopt a constrained (piecewise linear) strategy equilibrium concept and estimate … difference between the winning firm and the most efficient bidding firm. We also compare the expected procurement costs under two … different auction formats. The data is collected from procurement auctions of road painting in Sweden during 1993-99. The …
Persistent link: https://www.econbiz.de/10010321543
When procurement contracts are awarded through competitive tendering participating firms commit ex ante to fulfil a set …. We consider a stylized repeated procurement framework in which a buyer awards a contract over time to two firms with …
Persistent link: https://www.econbiz.de/10010270926
I compare an auction and a tournament in a procurement setting where a noncontractible signal about the quality that …
Persistent link: https://www.econbiz.de/10005857931
We consider a multi-dimensional procurement problem in which sellers have private information about their costs and … Bayesian procurement mechanism that implements the efficient allocation under the constraint that sellers are protected by …
Persistent link: https://www.econbiz.de/10011985277
We analyze the problem of a buyer who purchases a long-term project from one of several suppliers. A changing state of the world influences the costs of the suppliers. Complete contracts conditioning on all future realizations of the state are infeasible. We show that contractual incompleteness...
Persistent link: https://www.econbiz.de/10012105660
We contribute to the literature on the optimal design of auction mechanisms for the procurement of nature conservation … decreases with repetition. Theory predicts that repetition facilitates collusion among sellers in procurement auctions, while …
Persistent link: https://www.econbiz.de/10012114745
We empirically investigate the effect of procurement oversight on contract outcomes. In particular, we stress a …
Persistent link: https://www.econbiz.de/10011918702
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/10011932892
The procurement of complex projects is often plagued by large cost overruns. One important reason for these additional …
Persistent link: https://www.econbiz.de/10011932912