[fre] Équilibre approximatif et règle intuitive : une application aux appels d'offres dans l'industrie spatiale par Olivier Armantier, Jean-Pierre Florens et Jean-François Richard . Nous adoptons dans cet article la notion d'équilibre approximatif obtenu à partir d'une "règle intuitive"....

Abstract Each summer milk processors around the country participate in sealed bid procurements for the right to provide public schools with milk throughout the subsequent academic year. School district contracts are an important part of vehicle routing problems that milk processors solve on an...

Each summer milk processors around the country participate in sealed bid procurements for the right to provide public schools with milk throughout the subsequent academic year. School district contracts are an important part of vehicle routing problems that milk processors solve on an ongoing...

We estimate stochastic volatility leverage models for a panel of stock returns for 24 S&P 500 firms from six industries. News are measured as differences between daily return and a monthly moving average of past returns. We estimate the models by maximum likelihood using an Efficient Importance...

We propose a strategy for assessing structural stability in time-series frameworks when potential change dates are unknown. Existing stability tests are effective in detecting structural change, but procedures for identifying timing are imprecise, especially in assessing the stability of...

Private enforcement of regulatory policy is a significant feature of many government-sponsored contests, such as procurements. Although private enforcement is supposed to promote social welfare, we show that competitors can use it to achieve collusive outcomes. In a noncooperative duopoly...

Allegations of bidder collusion at Forest Service timber sales in the Pacific Northwest were common in the 1970s. Of course, prices may be low for reasons other than collusion. The authors formulate an empirical model that allows for both bidder collusion and supply effects and in which they...

Bidder coalitions at English auctions frequently distribute collusive gains among members via a secondary auction of "knockout." When coalition members are sufficiently heterogeneous, nested coalition structures are observed in which a knockout is conducted at each level of nesting. The nested...