The article examines mechanism of bid price determination in public procurement by individual tenderers. A game theory approach is used to analyse this process. Firstly, a simple model with two firms illustrates the influence of expected opponent’s decision in bid price setting. Assumptions...

Purpose: The paper aims to deal with the analysis of the factor leading to the repeated selection of the specific supplier and the effect of this recurrent selection on overpricing of public contracts. Design/methodology/approach: A mix of quantitative and qualitative methods is used to achieve...

Purpose: The value of an audit lies in its ability to detect and correct misstatements in financial statements. The purpose of this paper is to investigate the resolution of detected misstatements. Design/methodology/approach: Using data on a large sample of audit adjustments by a German Big 4...

This paper examines the exogeneity of money and prices within a money demand vector error-correction model. The exogeneity of the variables is central to several 'buffer stock' models. However, the paper makes two modifications to the traditional approach. The first is to explicitly acknowledge...