The paper analyzes the excess entry hypothesis for sealed-bid first-price public procurement auctions. The hypothesis is proved analytically for any feasible combination of bid preparation cost and bid evaluation cost when the bidders face a rectangular cost density function and confirmed in...

By replicating Articles 85 and 86 of the EC Treaty the Danish Competition Act (put in force January 1998) constituted a shift from the control principle to the prohibition principle. This is an important improvement from the point of view that regulatory legislation should be designed to give...