On procurement auctions of complementary goods

• Autores: Veronika Grimm
• Localización: Working papers = Documentos de trabajo: Serie AD, Nº. 2, 2004, 36 págs.
• Idioma: inglés
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• Resumen

  • We compare sequential and bundle auctions in a framework of successive procurement situations, where current success positively affects future market opportunities and competition varies across projects. We find that - if allocation of the projects has to be ensured - bundle auctions with subsequent resale opportunities yield a lower and less risky overall price, whereas sequential procurement leads to the efficient outcome.