Procurement Incentives And Bargaining Friction
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Procurement Incentives And Bargaining Friction
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Author : John J. Horton
language : en
Publisher:
Release Date : 2010
Procurement Incentives And Bargaining Friction written by John J. Horton and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with categories.
A transaction cost theory of procurement developed by Bajari and Tadelis (2001) models the buyer's choice of incentive structure as endogenous, with buyers trading off the efficiency of high-powered incentives against the ex post bargaining friction these incentives can create. The source of the bargaining friction is assumed to be asymmetric information between the buyer and seller about the true costs of adapting the project to changed conditions. Using government contract data and an instrument based on contracting-office idiosyncratic variation in preference for various contractual forms, I estimate the effect of a buyer choosing a fixed-price (i.e., high-powered) contract on the probability that the contract will lead to litigation, which proxies for bargaining failure and friction. I find that (a) fixed-price contracts are far more likely to be litigated that cost-plus contracts and (b) the instrumental variables estimate of the effect of choosing a fixed-price structure is almost twice as larges as the biased, OLS estimate. These results are consistent with the main predictions of the Bajari and Tadelis model.
Public Procurement And The Eu Competition Rules
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Author : Albert Sánchez Graells
language : en
Publisher: Bloomsbury Publishing
Release Date : 2011-01-29
Public Procurement And The Eu Competition Rules written by Albert Sánchez Graells and has been published by Bloomsbury Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-01-29 with Law categories.
Shortlisted for the 2012 Prix Vogel in Economic Law. Public procurement and competition law are both important fields of EU law and policy, intimately intertwined in the creation of the internal market. Hitherto their close connection has been noted, but not closely examined. This new work is the most comprehensive attempt to date to explain the many ways in which these fields, often considered independent of one another, interact and overlap in the creation of the internal market. In this process of convergence between competition and public procurement law , the need for this joint study is clearly apparent. As such the book asks whether competition law principles inform or condition public procurement rules, and whether they are adequate to ensure that competition is not distorted in markets where public procurement is particularly significant. The book moves away from the classical focus of public procurement on the activities of private actors, developing instead an analytical framework for the appraisal of the market behaviour of the public buyer from a competition perspective. The analysis is both legal and economic. Proceeding through a careful assessment of the general rules of competition and public procurement, the book constantly tests the efficacy of the rules in competition and public procurement against a standard of the proper functioning of undistorted competition in the market for public procurement.
Procurement Routes For Partnering
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Author : Jon Broome
language : en
Publisher: Thomas Telford
Release Date : 2002
Procurement Routes For Partnering written by Jon Broome and has been published by Thomas Telford this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with Business & Economics categories.
This book is aimed at those who want to apply or improve the application of partnering in the construction and heavy engineering industries to their projects. It focuses on procurement aspects based on the premise that unless the commercial and contractual conditions align objectives, there is little stimulus to change the culture and integrate processes and teams to achieve the outstanding results that can be attained through partnering.This invaluable book presents detailed information about the partnering and procurement process, which will lead to better delivery of construction projects.
Public Technology Procurement And Innovation
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Author : Charles Edquist
language : en
Publisher: Springer Science & Business Media
Release Date : 2000
Public Technology Procurement And Innovation written by Charles Edquist and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Business & Economics categories.
Public Technology Procurement and Innovation studies public technology procurement as an instrument of innovation policy. In the past few years, public technology procurement has been a relatively neglected topic in the theoretical and research literature on the economics of innovation. Similarly, preoccupation with `supply-side' measures has led policy-makers to avoid making very extensive use of this important `demand-side' instrument. These trends have been especially pronounced in the European Union. There, as this book will argue, existing legislation governing public procurement presents obstacles to the use of public technology procurement as a means of stimulating and supporting technological innovation. Recently, however, there has been a gradual re-awakening of practical interest in such measures among policy-makers in the EU and elsewhere. For these and other related measures, this volume aims to contribute to a serious reconsideration of public technology procurement from the complementary standpoints of innovation theory and innovation policy.
System Of Negotiations
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Author : René Schumann
language : en
Publisher: Springer Nature
Release Date : 2023-04-08
System Of Negotiations written by René Schumann and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-04-08 with Business & Economics categories.
This book presents criteria and recommendations for successful negotiations. The System of Negotiations, which was developed on a scientific basis for this purpose, clearly illustrates the most important steps, tools and applications. By using game theory and behavioral economics, the success of negotiations in purchasing can be systematically maximized. At the same time, transparency and fairness offer a high level of acceptance among negotiating partners. To this end, numerous practical examples are used to show how contracts can be awarded in the event of competition between suppliers, and how various auction formats and differentiated communication can be used to achieve optimal savings potential. Also for situations where the supplier is a monopolist, ways are described to avoid being at the mercy of pricing power.
Defence Procurement And Industry Policy
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Author : Stefan Markowski
language : en
Publisher: Routledge
Release Date : 2009-09-10
Defence Procurement And Industry Policy written by Stefan Markowski and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-09-10 with Business & Economics categories.
Arms purchases are among the most expensive, technologically challenging and politically controversial decisions made by modern-day governments. Superpower spending on weapons systems is widely analysed and discussed. But defence procurement in smaller industrial countries involves different issues which receive less attention. This volume presents a general framework for understanding smaller country defence procurement supported by country, industry and project studies. Part I provides a general framework for analysing smaller country defence procurement, focusing on the formation of national defence capabilities. The framework is then used to analyse issues around the development of procurement demand, the characteristics of defence industry supply, contracts and relationships between buyers and sellers, and government policy for defence procurement and industry development. Part II focuses on defence procurement in seven smaller industrial nations with widely varying historical and political settings (Australia, Canada, Israel, Singapore, Spain, Sweden and The Netherlands). Part III consists of two Australian case studies of the procurement issues raised in, respectively, the naval shipbuilding industry and in a major, complex defence project. The book addresses the needs of public and private sector managers, military planners, procurement specialists, industry policy-makers, and defence procurement and industry educators. It presents general principles in an accessible manner and points to real-world experience to illustrate the principles at work. Therefore it will be of interest to scholars and practitioners in defence economics, strategic procurement, public sector procurement, and defence industry policy.
Swing Pricing And Fragility In Open End Mutual Funds
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Author : Dunhong Jin
language : en
Publisher: International Monetary Fund
Release Date : 2019-11-01
Swing Pricing And Fragility In Open End Mutual Funds written by Dunhong Jin and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-11-01 with Business & Economics categories.
How to prevent runs on open-end mutual funds? In recent years, markets have observed an innovation that changed the way open-end funds are priced. Alternative pricing rules (known as swing pricing) adjust funds’ net asset values to pass on funds’ trading costs to transacting shareholders. Using unique data on investor transactions in U.K. corporate bond funds, we show that swing pricing eliminates the first-mover advantage arising from the traditional pricing rule and significantly reduces redemptions during stress periods. The positive impact of alternative pricing rules on fund flows reverses in calm periods when costs associated with higher tracking error dominate the pricing effect.
The Handbook Of Negotiation And Culture
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Author : Michele J. Gelfand
language : en
Publisher: Stanford University Press
Release Date : 2004
The Handbook Of Negotiation And Culture written by Michele J. Gelfand and has been published by Stanford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Business & Economics categories.
In the global marketplace, negotiation frequently takes place across cultural boundaries, yet negotiation theory has traditionally been grounded in Western culture. This book, which provides an in-depth review of the field of negotiation theory, expands current thinking to include cross-cultural perspectives. The contents of the book reflect the diversity of negotiationresearch-negotiator cognition, motivation, emotion, communication, power and disputing, intergroup relationships, third parties, justice, technology, and social dilemmasand provides new insight into negotiation theory, questioning assumptions, expanding constructs, and identifying limits not apparent from working exclusively within one culture. The book is organized in three sections and pairs chapters on negotiation theory with chapters on culture. The first part emphasizes psychological processescognition, motivation, and emotion. Part II examines the negotiation process. The third part emphasizes the social context of negotiation. A final chapter synthesizes the main themes of the book to illustrate how scholars and practitioners can capitalize on the synergy between culture and negotiation research.
Restructuring Trade Agreements
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Author : Juscelino F. Colares
language : en
Publisher: Kluwer Law International B.V.
Release Date : 2021-07-27
Restructuring Trade Agreements written by Juscelino F. Colares and has been published by Kluwer Law International B.V. this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-07-27 with Law categories.
To avoid trade-bargain erosion, countries involved in large-scale, bilateral or regional trade arrangements must reconcile preserving close economic ties and supply chains with the need to dynamically adjust to new opportunities with other partners. Using the growing deterioration of the European Union-Turkey Customs Union as an illustration to a new model of trade-agreement restructuring, this well-researched and deeply insightful book outlines and demonstrates how this trade arrangement can be successfully renegotiated, thus providing expert practical guidance in a crucial area of trade law and policy that rarely receives the attention it deserves. The book's novel framework features a clearly articulated legal foundation, a transactional deployment strategy, and a sequential negotiating approach applicable to bilateral and regional trade arrangements whose original terms no longer reflect the changed capabilities and interests of at least one of its parties. The authors respond in detail to questions, such as: When should a country pursue bargain rebalancing? How should trade diplomats pursue renegotiation and/or new partnerships, legally and transactionally? Given that free trade agreements keep each country’s trade sovereignty mostly intact, under which circumstances should a country ever consider entering a customs union? How may free-trade agreements help countries address trade imbalances while enhancing supply chain resilience? What are the limits to WTO litigation as an effective market-barrier-opening tool? How should trade-agreement restructuring be deployed as a path to further trade liberalization? In-depth attention is paid to identifying and investigating trade arrangements that are ripe for renegotiation and assessing sources of domestic and external support for or against renegotiating such bargains. This book’s model of international trade-agreement restructuring fits well with emerging thinking on greater trade diversification and supply-chain resilience. The authors provide a clear, actionable approach for considering and conducting the renegotiation of trade deals. For these reasons, this book will be welcomed by trade lawyers, supply-chain executives, economists, government officials, and academics who are grappling with rising economic frictions in the fault lines of national sovereignty, economic interdependence, and the limits of current trade arrangements.
Non Tariff Measures In Hemispheric Fta Negotiations
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Author : Sam Laird
language : en
Publisher:
Release Date : 1992
Non Tariff Measures In Hemispheric Fta Negotiations written by Sam Laird and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992 with Foreign trade regulation categories.