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In a number of observed procurements, the buyer has employed an auction format that allows for a split-award outcome. We focus on settings where the range of uncertainty regarding scale economies is large and, depending on cost realizations, the efficient allocations include split-award outcomes...
Persistent link: https://www.econbiz.de/10008495011
Persistent link: https://www.econbiz.de/10005409151
We consider the Hotelling–Downs model with n⩾3 office-seeking candidates and runoff voting. We show that Nash equilibria in pure strategies always exist and that there are typically multiple equilibria, both convergent (all candidates are located at the median) and divergent (candidates...
Persistent link: https://www.econbiz.de/10011049771