English, Article, Journal or magazine article edition: Efficient procurement with quality concerns Pierre-Henri MORAND; Lionel THOMAS

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Bookmark: http://trove.nla.gov.au/version/4281
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Efficient procurement with quality concerns
Author
  • Pierre-Henri MORAND
  • Lionel THOMAS
Physical Description
  • preprint
Notes
  • In this paper, we design the optimal procurement mechanisms when bidders are privately informed on efficiency and on observable but neither verifiable nor contractible quality. We show that most of the optimal procurement institutions are mixed procedure implying both separation and pooling. Thus, the existing takc-it-or-leave-it offers and procurement auc-tion appear only as polar cases. Moreover, we show that separation and pooling may affect the allocative efficiency of the procurement in a counter-intuitive way, such that a less bunching niechanism can be a more inefficient one.
  • Mechanism design, procurement, non-contractible quality
  • RePEc:ctl:louvre:2006022
Language
  • English
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