Competitive Bidding for Contracts under Alternative Auction Procedures
Bibliographic Data
| ID | 10180803 |
|---|---|
| Authors | Charles A Holt (0000-0002-7282-0185, corresponding author), Charles A Holt Charles A Holt |
| Year | 1980 |
| Volume | 88 |
| Issue | 3 |
| Pages | 433-445 |
| Publication date | 1980-06-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Journal of Political Economy (JOURNAL) |
| Journal identifiers | ISSN: 0022-3808 • E-ISSN: 1537-534X |
| Publisher | University of Chicago Press (PUBLISHER • US) |
| DOI | 10.1086/260878 |
| OpenAlex | W2124270520 |
| Language | EN |
| Citations received | 16 |
| References cited | 1 |
This paper presents a game-theoretic analysis of the competition for procurement contracts under different auction procedures. One procedure is a "discriminatory" auction in which contractors simultaneously submit sealed bids, and the lowest bidder wins. The other procedure is a "competitive" auction in which the bid price is lowered sequentially until only one interested bidder remains. The focus is on the effect of changes in procurement procedures and the number of bidders on expected procurement costs. If bidders in this model are risk averse, then the expected procurement cost is lower in a discrimatory auction than in a competitive auction
Auction theory · Bidding · Business · Competition (biology · Dutch auction · Eauction · Economics · English auction · Generalized second-price auction · Industrial organization · Microeconomics · Multiunit auction · Procurement · Proxy bid · Revenue equivalence · Reverse auction · Unique bid auction · Vickrey auction · Vickrey–Clarke–Groves auction · Auction Theory and Applications · Consumer Market Behavior and Pricing · Marketing · Supply Chain and Inventory Management
A Theory of Auctions and Competitive Bidding
Auctioning Conservation Contracts
A comparison of bribery and bidding in thin markets
Auction mechanisms for allocating subsidies for carbon emissions reduction
Auctions with Constrained Information
Risk Attitudes in First-Price Auction Experiments
Procurements with Bidder Asymmetry in Cost and Risk-Aversion
Are Structural Estimates of Auction Models Reasonable? Evidence from Experimental Data
Waiting-Line Auctions
Separating signaling equilibria under random relations between costs and attributes
A determination of bid rents through bidding procedures
Why Are Vickrey Auctions Rare
Competitive Bidding in Auctions with Private and Common Values
Price Determination in Public Procurement
Disequilibrium Theory and Thornton's Assault on the Laws of Supply and Demand
Auctioning Patronage in Northeast Brazil
| Unique citing works | 16 |
|---|---|
| Citations per year | 0.36 |
| Citation span | 1982 - 2023 (42) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 16 |