For the procurement of complex goods the early exchange of information is important to avoid costly renegotiation. If …

For the procurement of complex goods the early exchange of information is important to avoid costly renegotiation ex … use of negotiations as a procurement mechanism in private industry. …

investigate the impact this change in procurement contracts has on efficiency. Focusing on coal mines, we find that those selling …

-enhancing hidden investment to a standard sequential screening model of procurement, and find that (1) with convex investment cost …, mitigation of allocative distortion must arise; and (2) such mitigation can even be extreme with linear investment cost---procurement ….g., revenue maximization in auctions or cost minimization in procurement) typically calls for distortions in allocative efficiency …

This paper presents a novel theory of corruption in public procurement. It considers an agency setting of contract …

We consider procurement of an innovation from heterogeneous sellers. Innovations are random but depend on unobservable … effort and private information. We compare two procurement mechanisms where potential sellers first bid in an auction for …

The paper studies procurement contracts with pre-project investigations in the presence of adverse selection and moral …

Uncertainty in election outcomes generates politically induced regulatory risk. For monopoly regulation, political …

precontractual investment. Because the noisy signal of the supplier's investment is non-verifiable the buyer can induce the suppliers … in stimulating the supplier's investment …