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Price Determination in Public Procurement: A Game Theory Approach
Award procedure Bid price Game theory Public procurement
2016/1/27
The article examines mechanism of bid price determination in public procurement by individual tenderers. A game theory approach is used to analyse this process. Firstly, a simple model with two firms ...
Finding an optimal mechanism in a standard adverse selection model is equivalent to solving an infinite dimensional linear program. We begin with certain feasible mechanisms— those implemented by auct...
The Optimal Timing of Procurement Decisions and Patent Allocations
Optimal Timing Procurement Decisions Patent Allocations
2015/9/23
We illustrate by means of a dynamic research and development race that while at some points in the race social incentives and private incentives may coincide at other points they may diverge -- too ma...