Iossa, Elisabetta; Martimort, David - Centre for Market and Public Organisation (CMPO), … - 2014
In a public procurement setting, we discuss the desirability of completing contracts with state-contingent clauses … entails contracting costs that make incomplete contracts attractive, despite their higher agency costs. A public official … to that lower-tier may result in incomplete con-tracts being chosen too often. Empirical predictions on the use of …