, we propose a new empirical method that allows us to predict the expected procurement cost at any reserve price. Being … find that bidders are highly risk-averse and choosing non-binding reserve prices would minimize procurement costs, whereas …

counterfactual study shows that choosing a type-specific cost-minimizing reserve price marginally reduces the procurement cost …

I study a model of procurement with moral hazard and adverse selection. The procurer is either corrupt or honest and … can choose between sole-sourcing and competitive tender. I compare two procurement regulations: no sole-sourcing is … the gain to corruption is big, a flexible procurement regulation may be better than a rigid procurement regulation. If the …