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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- Liu, Shulin & Li, Jun & Liu, De, 2012. "Multi-attribute procurement auctions with risk averse suppliers," Economics Letters, Elsevier, vol. 115(3), pages 408-411.
- Link, Albert N. & Scott, John T., 2001. "Public/private partnerships: stimulating competition in a dynamic market," International Journal of Industrial Organization, Elsevier, vol. 19(5), pages 763-794, April.
- Paul, Anand & Gutierrez, Genaro, 2005. "Simple probability models for project contracting," European Journal of Operational Research, Elsevier, vol. 165(2), pages 329-338, September.
- Stephen Martin & John T. Scott, 1999.
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- Martin, Stephen & Scott, John T., 2000. "The nature of innovation market failure and the design of public support for private innovation," Research Policy, Elsevier, vol. 29(4-5), pages 437-447, April.
- Ward, S. C. & Chapman, C. B., 1995. "Evaluating fixed price incentive contracts," Omega, Elsevier, vol. 23(1), pages 49-62, February.
- Lansdowne, Z. F., 1996. "Extensions of bidding theory: Concealed bidding, optimal number of bidders, and follow-on contracts," Omega, Elsevier, vol. 24(1), pages 107-114, February.
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