Bidding for Contracts
AbstractIn a competitive procurement, a buyer seeks to institute a bidding and contracting procedure which selects the most efficient firm to undertake the contract while offering terms that promote risk sharing between buyer and contractor. This paper develops a model to analyze formally the trade-off between the objectives of risk sharing and efficient contractor selection.
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Bibliographic InfoArticle provided by INFORMS in its journal Management Science.
Volume (Year): 32 (1986)
Issue (Month): 12 (December)
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