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Many firms recognize exceptional supplier performance by giving out a "Supplier of the Year" or "Outstanding Supplier" award. These awards are usually symbolic since they have no immediate monetary value for a supplier and no direct cost to a buyer. Giving these awards can be beneficial for a...
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We study the design of sequential procurement strategies that integrate stochastic and strategic information. We consider a buyer who repeatedly demands a certain good and is unable to commit to long-term contracts. In each time period, the buyer makes a price offer to a seller who has private,...
Persistent link: https://www.econbiz.de/10012065183
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