Drawing on the real-options theory we analyse bidding behaviour in a sealed-bid-first-score procurement auction where suppliers, facing variable production costs, must simultaneously report the contract price and the cost level at which they intend to perform the project. We show that this award...

Bid-rigging in public procurement is a particularly serious infringement of competition law. New economic and algorithmic tools can effectively complement the existing enforcement mechanisms to ensure that a virtuous circle of detection, enforcement and compliance is triggered. This short paper...

In Korea, local governments and local agencies had to apply a version of the first price auction augmented by an ex-post screening process when they procure construction contracts. However, this first price auction had been criticized because it was felt that too much price competition could...

In Korea, local governments and local agencies had to apply a version of the first price auction augmented by an ex-post screening process when they procure construction contracts. However, this first price auction had been criticized because it was felt that too much price competition could...

To the extent that the federal procurement process features prominently in the Government’s plan to slow the pace of, and adapt to the effects of, climate change, this paper attempts to provide some basic building blocks for acquisition professionals to practice sustainable procurement. The...

Drawing on the real-options theory we analyse bidding behaviour in a sealed-bid-first-score procurement auction where suppliers, facing variable production costs, must simultaneously report the contract price and the cost level at which they intend to perform the project. We show that this award...

This paper assesses the role of the Contractor-General in public procurement and the utility of the office in the anticorruption project. The author also examine other initiatives such as anticorruption clauses in procurement contracts, codes of ethics, declaration of assets by public servants,...

Parliamentary oversight of executive discretionary spending is increasingly becoming a mere formality. Nowhere is there greater scope for alleged and actual corruption than in the case executive discretionary spending. Both Jamaica and Belize have embarked on an experiment of parliamentary...