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Yardstick Based Procurement Design In Natural Resource Management

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Author Info
Bogetoft, Peter
Nielsen, Kurt

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Abstract

This paper discuss the design of multidimensional yardstick based procurement auction. The suggested design combines Data Envelopment Analysis (DEA) based yardstick schemes with the multidimensional score auction. The principal select a single winner to perform a project, characterized by a multidimensional vector. The design is especially useful when there are uncertainty about the underlying common cost structure as well as the principal's valuation function. Potential applications in natural resource management is provided.

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Paper provided by International Association of Agricultural Economists in its series 2003 Annual Meeting, August 16-22, 2003, Durban, South Africa with number 25910.

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Date of creation: 2003
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Handle: RePEc:ags:iaae03:25910

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Keywords: Resource /Energy Economics and Policy;

References listed on IDEAS
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  1. Armstrong, Mark, 1996. "Multiproduct Nonlinear Pricing," Econometrica, Econometric Society, vol. 64(1), pages 51-75, January. [Downloadable!] (restricted)
  2. Fernando Branco, 1997. "The Design of Multidimensional Auctions," RAND Journal of Economics, The RAND Corporation, vol. 28(1), pages 63-81, Spring. [Downloadable!] (restricted)
  3. Milgrom, Paul & Roberts, John, 1990. "Rationalizability, Learning, and Equilibrium in Games with Strategic Complementarities," Econometrica, Econometric Society, vol. 58(6), pages 1255-77, November. [Downloadable!] (restricted)
  4. Banker, Rajiv D., 1980. "A game theoretic approach to measuring efficiency," European Journal of Operational Research, Elsevier, vol. 5(4), pages 262-266, October. [Downloadable!] (restricted)
  5. Lawrence M. Ausubel & Peter Cramton, 1998. "The Optimality of Being Efficient," Papers of Peter Cramton 98wpoe, University of Maryland, Department of Economics - Peter Cramton, revised 18 Jun 1999. [Downloadable!]
  6. Cripps, Martin & Ireland, Norman, 1994. "The Design of Auctions and Tenders with Quality Thresholds: The Symmetric Case," Economic Journal, Royal Economic Society, vol. 104(423), pages 316-26, March. [Downloadable!] (restricted)
  7. Andrei Shleifer, 1985. "A Theory of Yardstick Competition," RAND Journal of Economics, The RAND Corporation, vol. 16(3), pages 319-327, Autumn. [Downloadable!] (restricted)
  8. Charnes, A. & Cooper, W. W. & Rhodes, E., 1978. "Measuring the efficiency of decision making units," European Journal of Operational Research, Elsevier, vol. 2(6), pages 429-444, November. [Downloadable!] (restricted)
  9. David McAdams, 2004. "Monotone Equilibrium in Multi-Unit Auctions," Econometric Society 2004 North American Summer Meetings 211, Econometric Society.
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  10. Thiel, Stuart E., 1988. "Multidimensional auctions," Economics Letters, Elsevier, vol. 28(1), pages 37-40. [Downloadable!] (restricted)
  11. Yeon-Koo Che, 1993. "Design Competition through Multidimensional Auctions," RAND Journal of Economics, The RAND Corporation, vol. 24(4), pages 668-680, Winter. [Downloadable!] (restricted)
  12. Bengt Holmstrom, 1982. "Moral Hazard in Teams," Bell Journal of Economics, The RAND Corporation, vol. 13(2), pages 324-340, Autumn. [Downloadable!] (restricted)
  13. Banker, R. D. & Charnes, A. & Cooper, W. W. & Clarke, R., 1989. "Constrained game formulations and interpretations for data envelopment analysis," European Journal of Operational Research, Elsevier, vol. 40(3), pages 299-308, June. [Downloadable!] (restricted)
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