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Previous empirical investigations provide evidence of substantial regional variation in the supply elasticity of … regulatory supply constraints, city level population, population density, and geographic constraints. This paper studies … indicating that the supply elasticity is largely a local phenomenon, i.e., dependent mainly on city specific factors rather than …
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This paper studies the effect of forward contracts on the stability of collusion among firms, competing in supply …
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Climate protection should use environmental policy instruments that raise revenues, which can be used, for instance, to cut labour taxes to alleviate unemployment in economies suffering from high and persistent unemployment. This paper elaborates the possibilities of an employment dividend of...
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To what extent does a more competent public bureaucracy contribute to better economic outcomes? We address this question in the context of the US federal procurement of services and works, by combining contract-level data on procurement performance and bureau-level data on competence and...
Persistent link: https://www.econbiz.de/10012134471
We consider a multi-dimensional procurement problem in which sellers have private information about their costs and about a possible design flaw. The information about the design flaw is necessarily correlated. We solve for the optimal Bayesian procurement mechanism that implements the efficient...
Persistent link: https://www.econbiz.de/10011976063
We analyze the problem of a buyer who purchases a long-term project from one of several suppliers. A changing state of the world influences the costs of the suppliers. Complete contracts conditioning on all future realizations of the state are infeasible. We show that contractual incompleteness...
Persistent link: https://www.econbiz.de/10012105726