English, Article edition: Auctions With A Minimum Requirement Of Bids Ferdinando Colombo

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Bookmark: http://trove.nla.gov.au/version/166530
Physical Description
  • article
Language
  • English

Edition details

Title
  • Auctions With A Minimum Requirement Of Bids
Author
  • Ferdinando Colombo
Physical Description
  • article
Notes
  • We show that in a procurement auction with independent and private costs of production and a positive cost of preparing a bid, the requirement of a minimum number of offers for the good to be bought always yields a unique (perfect) Bayesian equilibrium where no firm enters a bid, whatever its cost of production, the number of potential bidders and the size of the bidding cost. Copyright Blackwell Publishing Ltd/​University of Adelaide and Flinders University of South Australia 2003.
  • RePEc:bla:ausecp:v:42:y:2003:i:4:p:363-372
Language
  • English
Contributed by
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