This paper investigates a procurement relationship between a welfare-oriented government and a private supplier. The … procurement where the buyer maximizes profit rather than welfare. We identify the government's welfare objective as its Achilles …' heel: equilibrium trade prices differ in public and private procurement, and private governance can lead to more efficient …

organisational and contractual solutions are best suited. Optimum rig procurement will depend in part on whether the oil companies … and capacity to manage and follow up procurement. …