Competitive Procurement and Asset Specificity
AbstractThis paper studies the effects of asset specificity on the performance of procurement auctions with subcontracting and asset sales.The analysis highlights the role of several asset features like transfer costs, type of alternative uses and maintenance requirements.It is argued that, if bargaining over subcontracting or asset sales is efficient enough, then the presence of durable specific assets per se does not have decisive effects on the competitive pressure from potential entrants.
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Bibliographic InfoPaper provided by Tilburg University, Center for Economic Research in its series Discussion Paper with number 2003-96.
Date of creation: 2003
Date of revision:
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Web page: http://center.uvt.nl
competitiveness; transaction costs; franchising; monopoly; regulations; auctions; markov processes; general equilibrium; asset specificity;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2003-12-07 (All new papers)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Charles Zhoucheng Zheng, 2002.
"Optimal Auction with Resale,"
Econometric Society, vol. 70(6), pages 2197-2224, November.
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