Public procurement design: Lessons from the private sector
AbstractPublic procurement regulations put constraints on the contracts and award mechanisms that public procurement agencies can use. These constraints are not present in the private sector, and recent studies suggest that the added flexibility in private sector procurement offers efficiency advantages. This paper offers a short progress report of these recent studies, and argues for the need to enhance the tools that are currently at the disposal of public sector procurement offices.
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Bibliographic InfoArticle provided by Elsevier in its journal International Journal of Industrial Organization.
Volume (Year): 30 (2012)
Issue (Month): 3 ()
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Web page: http://www.elsevier.com/locate/inca/505551
Public procurement; Fixed-price contracts; Cost-plus contracts; Auctions; Negotiations; Adaptation costs;
Find related papers by JEL classification:
- D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
- H57 - Public Economics - - National Government Expenditures and Related Policies - - - Procurement
- L14 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Transactional Relationships; Contracts and Reputation
- L22 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Organization and Market Structure
- L74 - Industrial Organization - - Industry Studies: Primary Products and Construction - - - Construction
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