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Procurement with unforeseen contingencies

Herweg, Fabian; Schmidt, Klaus M. - 2017 - This version: October 15, 2017

The procurement of complex projects is often plagued by large cost overruns. One important reason for these additional costs are flaws in the initial design. If the project is procured with a price-only auction, sellers who spotted some of the flaws have no incentive to reveal them early. Each...

Persistent link: https://www.econbiz.de/10011762526

Procurement Mechanisms with Post-Auction Pre-Award Cost-reduction Investigations

Chen, Qi (George) - 2020

A buyer seeking to outsource production may be able to find ways to reduce a potential supplier's cost, e.g., by suggesting improvements to the supplier's proposed production methods. We study how a buyer could use such "cost reduction investigations" by proposing a three-step supplier selection...

Persistent link: https://www.econbiz.de/10012842560

Communication and Reputation in Procurement Auctions – Some Empirical Evidence

Heinrich, Timo - 2011

auctions. Not only positive reputation ratings but also engaging in communication increases a bidder’s probability of winning …

Persistent link: https://www.econbiz.de/10014182497

Identification and Estimation of a Search Model : A Procurement Auction Approach

Myśliwski, Mateusz - 2017

We propose a non-sequential search model with a continuum of consumers and a finite number of firms. Both consumers and firms are heterogeneous. Consumers differ in search costs. Firms have private marginal costs of production. We show that an equilibrium price dispersion can arise in this model...

Persistent link: https://www.econbiz.de/10012956396

E-Sourcing in Procurement : Theory and Behavior in Reverse Auctions with Non-Competitive Contracts

Engelbrecht-Wiggans, Richard; Katok, Elena - 2005

the suppliers to deal with. Reverse auctions do not have this flexibility, because it is the auction rules and not the … with auctions. We find that in theory such hybrid mechanisms that remove some suppliers and a corresponding amount of …

Persistent link: https://www.econbiz.de/10014066617

Ratifiable Collusion and Bidding Systems in Procurement

Tanno, Tadanobu - 2009

This study explores stability in efficient collusion in government procurement auctions. In first- and second …-price auctions with independent private values, we look at the possibility of vetoing collusion mechanisms and the learning of the … other bidders after vetoing. The collusions in first-price auctions in simple case and second-price auctions are stable …

Persistent link: https://www.econbiz.de/10014211854

Auctions of Incentive Contracts for Policy Choice

Del Villar, Francisco - 2023

A risk-neutral principal considers hiring one agent to improve a valuable, observable outcome. Who to hire? How to motivate? In this paper, the principal designs an incentive contract that pays according to the realized outcome and sells the contract to an agent through an auction. The paper...

Persistent link: https://www.econbiz.de/10014357642

Information disclosure in dynamic buyer-determined procurement auctions : an empirical study

Stoll, Sebastian; Zoettl, Gregor - 2012

The outcome of non-binding reverse auctions critically depends on how information is distributed during the bidding … ; Bidding ; Reverse Auctions ; Multi-Attribute Auctions ; Non-Binding Auctions ; Information Revelation ; Structural Estimation …

Persistent link: https://www.econbiz.de/10009671097

Optimal procurement and outsourcing of production in small industries : conference paper

Rosar, Frank - 2013 - This version: February 5, 2013

I study the interaction between optimal procurement and outsourcing of production in small industries. First, two sellers decide about outsourcing. By outsourcing, a seller loses information about the costs of producing to his supplier. Then the buyer designs the procurement mechanism and...

Persistent link: https://www.econbiz.de/10010340964

Negotiating cultures in corporate procurement : conference paper

Rosar, Frank; Müller, Florian - 2014 - (This version: February 5, 2014)

For a repeated procurement problem, we compare two stylized negotiating cultures which differ in how the buyer uses an entrant to exert pressure on the incumbent resembling U.S. style and Japanese style procurement. In each period, the suppliers are privately informed about their production...

Persistent link: https://www.econbiz.de/10010490631