Procurement

Hyperimmunes Plasma Procurement and Products

Procurement Design with Corruption

This paper investigates the design of optimal procurement mechanisms in the presence of corruption. After the sponsor and the contractor sign the contract, the latter may bribe the inspector to misrepresent quality. Thus, the mechanism affects whether bribery occurs. I show how to include bribery as an additional constraint in the optimal-control problem that the sponsor solves, and characteriz...

Procurement and process design

The project cycle ................................................................................................ 1 Project delivery ................................................................................................... 2 Design-Bid-Build................................................................................................. 3 Quality-based selection in design-build.........

Procurement and Renegotiation

Parties bound by an incomplete contract have an incentive to renegotiate after acquiring new information. The issue of the parties' investment in the relationship before renegotiation is analyzed in a simple two-period procurement model. The firm invests in the first period. It then learns its production cost and the sponsor learns its value for the project. Williamson' s underinvestment presum...

Implement Procurement Maturity Model