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Yardstick Based Procurement Design In Natural Resource Management

  • Bogetoft, Peter
  • Nielsen, Kurt

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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File URL: http://purl.umn.edu/25910
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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
Contact details of provider: Web page: http://www.iaae-agecon.org/
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  1. Peter Bogetoft, 1994. "Incentive Efficient Production Frontiers: An Agency Perspective on DEA," Management Science, INFORMS, vol. 40(8), pages 959-968, August.
  2. 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.
  3. Armstrong, Mark, 1996. "Multiproduct Nonlinear Pricing," Econometrica, Econometric Society, vol. 64(1), pages 51-75, January.
  4. Peter Bogetoft, 2000. "DEA and Activity Planning under Asymmetric Information," Journal of Productivity Analysis, Springer, vol. 13(1), pages 7-48, January.
  5. Dalen, Dag Morten & Gomez-Lobo, Andres, 1997. "Estimating cost functions in regulated industries characterized by asymmetric information," European Economic Review, Elsevier, vol. 41(3-5), pages 935-942, April.
  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.
  7. Resende, Marcelo, 2002. "Relative efficiency measurement and prospects for yardstick competition in Brazilian electricity distribution," Energy Policy, Elsevier, vol. 30(8), pages 637-647, June.
  8. Thiel, Stuart E., 1988. "Multidimensional auctions," Economics Letters, Elsevier, vol. 28(1), pages 37-40.
  9. 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.
  10. 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.
  11. David McAdams, 2006. "Monotone Equilibrium in Multi-Unit Auctions," Review of Economic Studies, Oxford University Press, vol. 73(4), pages 1039-1056.
  12. David McAdams, 2004. "Monotone Equilibrium in Multi-Unit Auctions," Econometric Society 2004 North American Summer Meetings 211, Econometric Society.
  13. Milgrom, Paul & Roberts, John, 1990. "Rationalizability, Learning, and Equilibrium in Games with Strategic Complementarities," Econometrica, Econometric Society, vol. 58(6), pages 1255-77, November.
  14. Agrell, Per J. & Bogetoft, Peter & Tind, Jorgen, 2002. "Incentive plans for productive efficiency, innovation and learning," International Journal of Production Economics, Elsevier, vol. 78(1), pages 1-11, July.
  15. Babcock, Bruce A. & Lakshminarayan, P. G. & Wu, J. & Zilberman, David, 1997. "Targeting Tools for the Purchase of Environmental Amenities," Staff General Research Papers 5220, Iowa State University, Department of Economics.
  16. Banker, Rajiv D., 1980. "A game theoretic approach to measuring efficiency," European Journal of Operational Research, Elsevier, vol. 5(4), pages 262-266, October.
  17. repec:bla:restud:v:73:y:2006:i:4:p:1039-1056 is not listed on IDEAS
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