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Maintaining Competition in Recurrent Procurement Contracts: A case study on the London Bus Market

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Under recurrent procurement, the awarding of a contract to a firm may put it in an advantageous position in future tenders, which may reduce competition over time. The objective of this paper is to study the dynamics of competition for tendered contracts, focusing on factors that may generate incumbent advantage. Particular attention is given to learning economies, sunk costs of entry and switching costs for the procurer. The paper then applies these insights to analyse empirically the evolution of competition in the market for local bus services in London.

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Paper provided by Tor Vergata University, CEIS in its series CEIS Research Paper with number 400.

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Length: 30 pages
Date of creation: 24 Feb 2017
Date of revision: 24 Feb 2017
Handle: RePEc:rtv:ceisrp:400
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  1. Mireia Jofre-Bonet & Martin Pesendorfer, 2003. "Estimation of a Dynamic Auction Game," Econometrica, Econometric Society, vol. 71(5), pages 1443-1489, 09.
  2. Mark A. Zupan, 1989. "Cable Franchise Renewals: Do Incumbent Firms Behave Opportunistically?," RAND Journal of Economics, The RAND Corporation, vol. 20(4), pages 473-482, Winter.
  3. De Silva, Dakshina G. & Kosmopoulou, Georgia & Lamarche, Carlos, 2009. "The effect of information on the bidding and survival of entrants in procurement auctions," Journal of Public Economics, Elsevier, vol. 93(1-2), pages 56-72, February.
  4. Viplav Saini, 2012. "Endogenous asymmetry in a dynamic procurement auction," RAND Journal of Economics, RAND Corporation, vol. 43(4), pages 726-760, December.
  5. Oliver E. Williamson, 1976. "Franchise Bidding for Natural Monopolies -- in General and with Respect to CATV," Bell Journal of Economics, The RAND Corporation, vol. 7(1), pages 73-104, Spring.
  6. Amaral, Miguel & Saussier, Stéphane & Yvrande-Billon, Anne, 2009. "Auction procedures and competition in public services: The case of urban public transport in France and London," Utilities Policy, Elsevier, vol. 17(2), pages 166-175, June.
  7. De Silva, Dakshina G. & Dunne, Timothy & Kosmopoulou, Georgia, 2002. "Sequential bidding in auctions of construction contracts," Economics Letters, Elsevier, vol. 76(2), pages 239-244, July.
  8. De Silva, Dakshina G. & Kosmopoulou, Georgia & Lamarche, Carlos, 2012. "Survival of contractors with previous subcontracting experience," Economics Letters, Elsevier, vol. 117(1), pages 7-9.
  9. Verbich, David & El-Geneidy, Ahmed, 2016. "The pursuit of satisfaction: Variation in satisfaction with bus transit service among riders with encumbrances and riders with disabilities using a large-scale survey from London, UK," Transport Policy, Elsevier, vol. 47(C), pages 64-71.
  10. Cowan, Robin, 1990. "Nuclear Power Reactors: A Study in Technological Lock-in," The Journal of Economic History, Cambridge University Press, vol. 50(03), pages 541-567, September.
  11. Jofre-Bonet, Mireia & Pesendorfer, Martin, 2000. "Bidding behavior in a repeated procurement auction: A summary," European Economic Review, Elsevier, vol. 44(4-6), pages 1006-1020, May.
  12. Eshien Chong & Stéphane Saussier & Brian S. Silverman, 2015. "Water Under the Bridge: Determinants of Franchise Renewal in Water Provision," Journal of Law, Economics and Organization, Oxford University Press, vol. 31(suppl_1), pages 3-39.
  13. Sheng Li & Peter Philips, 2012. "Construction Procurement Auctions: Do Entrant Bidders Employ More Aggressive Strategies than Incumbent Bidders?," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 40(3), pages 191-205, May.
  14. Miguel Amaral & Stéphane Saussier & Anne Yvrande-Billon, 2013. "Expected Number of Bidders and Winning Bids: Evidence from the London Bus Tendering Model," Journal of Transport Economics and Policy, University of Bath, vol. 47(1), pages 17-34, January.
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