descend synchronously such that the cheapest projects are executed. The case in which values or costs are asymmetrically …

that the cheapest projects are implemented. The case in which values or costs are asymmetrically distributed features a …

descend synchronously such that the cheapest projects are executed. The case in which values or costs are asymmetrically …

We consider a multi-dimensional procurement problem in which sellers have private information about their costs and … Bayesian procurement mechanism that implements the efficient allocation under the constraint that sellers are protected by … limited liability. We show that the rents obtained from reporting costs truthfully can be used to reduce the rents sellers …

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 …

Cost overrun is ubiquitous in public procurement. We argue that this can be the result of a constraint optimal award …

Cost overrun is ubiquitous in public procurement. We argue that this can be the result of a constrained optimal award … takes place and the fancy design has higher production costs or the contractor's bargaining position is strong, the final …

The paper studies procurement contracts with pre-project investigations in the presence of adverse selection and moral …

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 cost, but only the incumbent can influence the buyer s procurement mechanism …