How the Auction Design Influences Procurement Prices: An Experiment
نویسندگان
چکیده
منابع مشابه
Framework Agreements in Procurement: An Auction Model and Design Recommendations
Framework agreements (FAs) are procurement mechanisms commonly used by buying agencies around the world to satisfy demand that arises over a certain time horizon. This paper is one of the first in the literature that provides a formal understanding of FAs, with a particular focus on the cost uncertainty faced by bidders over the FA time horizon. We introduce a novel model that generalizes stand...
متن کاملKnowing Your Opponent: An Experiment on Auction Design with Asymmetries
Economists, when faced with undesirable bidder behavior in an auction, have often studied how changing the auction format can be beneficial. We study instead how changing the information available to bidders can change bidder behavior and increase the revenue an auction generates. We study common-value second-price auctions where bidders differ in the precision of their information (i.e., are e...
متن کاملThe Design of Combinatorial Auctions for Procurement: An Empirical Study of the Chilean School Meals Auction∗
In this paper we conduct an empirical investigation of a large-scale combinatorial auction (CA); the Chilean auction for school meals in which the government procures half a billion dollars worth of meal services every year. Our empirical study is motivated by two fundamental aspects in the design of CAs: (1) which packages should bidders be allowed to bid on; and (2) diversifying the supplier ...
متن کاملProcurement Auction with Supplier Coalitions: Validity Requirements and Mechanism Design
We study the formation of supplier coalitions in the context of a buyer-centric procurement market. Considered under a second-price descending seal-bid auction, we propose a two-stage auction mechanism that allows suppliers to form coalitions with one another. Building on the foundations of core games and bidding-rings, we explore the idea of “managed collusion” which provides a means to enhanc...
متن کاملSecure Multi-attribute Procurement Auction
In this paper, we develop a secure multi-attribute procurement auction, in which a sales item is defined by several attributes called qualities, the buyer is the auctioneer (e.g., a government), and the sellers are the bidders. We first present a Vickrey-type protocol that can be used for multi-attribute procurement auctions. Next, we show how this protocol can be executed securely. key words :...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2019
ISSN: 1556-5068
DOI: 10.2139/ssrn.3526022