Comparing Public Procurement Auctions
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Comparing Public Procurement Auctions
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Author : Francesco Decarolis
language : en
Publisher:
Release Date : 2020
Comparing Public Procurement Auctions written by Francesco Decarolis and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with categories.
This article contrasts two auction formats often used in public procurement: first price auctions with ex post screening of bid responsiveness and average bid auctions (ABAs), in which the bidder closest to the average bid wins. The equilibrium analysis reveals that their ranking is ambiguous in terms of revenues, but the ABA is typically less efficient. Using a data set of Italian public procurement auctions run alternately under the two formats, a structural model of bidding is estimated for the subsample of first price auctions and used to quantify the efficiency loss under counterfactual ABAs.
The Impact Of Public Information On Bidding In Highway Procurement Auctions
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Author : Dakshina G. De Silva
language : en
Publisher:
Release Date : 2007
The Impact Of Public Information On Bidding In Highway Procurement Auctions written by Dakshina G. De Silva and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with categories.
A number of papers in the theoretical auction literature show that the release of information regarding the seller's valuation of an item can cause bidders to bid more aggressively. This widely accepted result in auction theory remains largely untested in the empirical literature. Recent theoretical work has also shown that this effect can be more pronounced in auctions with larger common cost uncertainty. We examine the impact of a policy change by the Oklahoma Department of Transportation that led to the release of the state's internal estimate of the costs to complete highway construction projects. We perform a differences-in-differences analysis comparing bidding in Texas, a state that had a uniform policy of revealing the same information all throughout the period of analysis, to bidding in Oklahoma. Our results show that, in comparison to Texas auctions, the average bid in Oklahoma fell after the change in engineers' cost estimate (ECE) policy. This decline in bids was even larger for projects where the common uncertainty in costs is greater. Moreover, the within-auction standard deviation of bids fell after the change in ECE policy with the most significant decline observed again in projects with greater common cost uncertainty.
Entry And Subcontracting In Public Procurement Auctions
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Author : Nicola Branzoli
language : en
Publisher:
Release Date : 2019
Entry And Subcontracting In Public Procurement Auctions written by Nicola Branzoli and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.
We empirically study how the interplay between entry and subcontracting choices is affected by the use of different auction formats in public procurement. The difference-in-differences strategy used exploits a data set of auctions for public works run alternately under first price and average bid auctions. We find that the use of first price auctions causes a marked decline in both entry and subcontracting. We also find that the type of firms entering first price auctions changes with firms becoming more likely to bid jointly with other firms in ad hoc joint ventures.
Best Practices For Online Procurement Auctions
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Author : Parente, Diane H.
language : en
Publisher: IGI Global
Release Date : 2007-12-31
Best Practices For Online Procurement Auctions written by Parente, Diane H. and has been published by IGI Global this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-12-31 with Education categories.
Offers a systematic approach to the examination of online procurement auctions. Growth in online auctions reinforces the need for understanding the factors important in auctions and the caveats that both researchers and practitioners need to know in order to effectively study and use the auction tool.
Public Procurement In The European Union
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Author : Alexander Rhode
language : en
Publisher: Springer Nature
Release Date : 2019-10-19
Public Procurement In The European Union written by Alexander Rhode and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-10-19 with Business & Economics categories.
Alexander Rhode investigates performance-oriented measures of Contracting Authorities in public tenders conducted within the EU. He finds that Contracting Authorities can improve their performance and attract more suppliers by publishing (as precise as possible) starting prices in the beginning of a tender. First, he reports that compared with private-sector negotiations, starting prices do not create entry barriers in public procurement. Second, he finds that increased numerical precision of starting prices is linearly correlated with better performance and a higher number of bids. In public procurement, suppliers tend to attribute increased credibility to precise starting prices which reduces their (perceived) entry risks.
Corruption In Public Procurement Auctions
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Author : Maria Monica Wihardja
language : en
Publisher:
Release Date : 2009
Corruption In Public Procurement Auctions written by Maria Monica Wihardja and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with categories.
We provide a positive analysis of the equilibrium bidding and bribing strategies with and without corruption in a first-price, sealed-bid, procurement auction with two-dimensional-type bidders. With corruption, we assume that the quality of the bidders are unobservable and non-contractible ex-post. We show examples of equilibrium bids and bribes of N two-dimensional-type bidders in an incomplete information game where the type space is discrete and strategy space is infinite. The equilibrium bid and bribe decrease in the number of bidders. Moreover, we show that in this auction with corruption, quality is randomly chosen, constraining efficiency. In fact, no mechanism can be efficient in this auction. The empirical study suggests that increasing the number of bidders increases the percentage cost efficiency at a decreasing rate and it starts to decrease the percentage cost efficiency after it reaches a certain number of bidders.
The Role Of Buyer Power In Public Procurement Auctions
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Author : Elon Strömbäck
language : en
Publisher:
Release Date : 2015
The Role Of Buyer Power In Public Procurement Auctions written by Elon Strömbäck and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with categories.
Working Paper
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Author : Niels Blomgren-Hansen
language : en
Publisher:
Release Date : 2019
Working Paper written by Niels Blomgren-Hansen and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.
Optimal Bidder Participation In Public Procurement Auctions
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Author : Ilke Onur
language : en
Publisher:
Release Date : 2017
Optimal Bidder Participation In Public Procurement Auctions written by Ilke Onur and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with categories.
We present an easy-to-implement method to identify the optimal number of bidders in public procurement auctions. We examine a unique data set that covers all government procurement auctions comprising more than half a million observations. We show that there is an optimal number of bidders at which the minimum procurement price can be achieved. These results have several policy implications. Policy makers can use the easy-to-implement method to identify the optimal number of bidders and employ them as focal points to analyze whether competitive efficiency is achieved in public procurement auctions.
Balancing Services Procurement Auctions Design
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Author : Danae Fenner Rivera
language : en
Publisher:
Release Date : 2023
Balancing Services Procurement Auctions Design written by Danae Fenner Rivera and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023 with categories.