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Network Procurement Auctions

  • Thomas Greve
  • Michael G. Pollitt

In most network asset procurement exercises, network configurations are predefined by the auctioneers. Bidders can neither propose different network configurations nor can they submit bids on a group of network links. We believe the market itself can be designed better. We present a lot structure and an auction design where bidders might propose and build different network configurations and where bidding for packages is a possibility. We demonstrate why the auction design in this paper should be considered for future network procurement exercises through an example, inspired by UK offshore electricity transmission assets, to illustrate our idea.

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File URL: http://www.econ.cam.ac.uk/research/repec/cam/pdf/cwpe1347.pdf
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Paper provided by Faculty of Economics, University of Cambridge in its series Cambridge Working Papers in Economics with number 1347.

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Date of creation: 27 Nov 2013
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Handle: RePEc:cam:camdae:1347
Contact details of provider: Web page: http://www.econ.cam.ac.uk/index.htm

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  1. Aytek Erdil & Paul Klemperer, 2010. "A New Payment Rule for Core-Selecting Package Auctions," Journal of the European Economic Association, MIT Press, vol. 8(2-3), pages 537-547, 04-05.
  2. Klemperer, Paul, 1999. "Auction Theory: a Guide to the Literature," CEPR Discussion Papers 2163, C.E.P.R. Discussion Papers.
  3. Miguel Amaral & Stéphane Saussier & Anne Yvrande-Billon, 2009. "Auction Procedures and Competition in Public Services: The Case of Urban Public Transport in France and London," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00310911, HAL.
  4. Eduardo Engel & Ronald Fischer & Alexander Galetovic, 2007. "The Basic Public Finance of Public-Private Partnerships," Levine's Bibliography 843644000000000313, UCLA Department of Economics.
  5. Philippe Burger & Ian Hawkesworth, 2011. "How To Attain Value for Money: Comparing PPP and Traditional Infrastructure Public Procurement," OECD Journal on Budgeting, OECD Publishing, vol. 11(1), pages 91-146.
  6. Jean-Jacques Laffont & Jean Tirole, 1993. "A Theory of Incentives in Procurement and Regulation," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262121743, December.
  7. Dasgupta, Sudipto & Spulber, Daniel F., 1989. "Managing procurement auctions," Information Economics and Policy, Elsevier, vol. 4(1), pages 5-29.
  8. Paul Klemperer, 2004. "Auctions: Theory and Practice," Economics Papers 2004-W09, Economics Group, Nuffield College, University of Oxford.
  9. Engel, Eduardo & Fischer, Ronald & Galetovic, Alexander, 1997. "Highway Franchising: Pitfalls and Opportunities," American Economic Review, American Economic Association, vol. 87(2), pages 68-72, May.
  10. Paul Klemperer, 2004. "Introduction to Auctions: Theory and Practice," Introductory Chapters, in: Auctions: Theory and Practice Princeton University Press.
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