scholarly journals When the Highest Bidder Loses the Auction: Theory and Evidence from Public Procurement

2009 ◽  
Author(s):  
Francesco Decarolis
Keyword(s):  
Public Procurement ◽  
Auction Theory

The principles of auction theory (Nobel Memorial Prize in Economic Sciences 2020)

2021 ◽  
pp. 5-32
Author(s):  
K. I. Sonin
Keyword(s):  
Public Procurement ◽  
Auction Theory ◽  
Electromagnetic Spectrum ◽  
Price Theory ◽  
Practical Applications ◽  
Economic Role ◽  
Robert Wilson ◽  
Modern Economic ◽  
Role Of Information

Auction theory is the core of modern economic theory, and standard auctions are the basic elements of many models in microeconomics, public economics, and finance. Theoretical studies of auctions have shaped the modern understanding of the economic role of information in competitive market, and of price theory. Applied analysis of auctions has underpinned important practical mechanisms — for example, mechanisms of privatization and re-privatization of electromagnetic spectrum and public procurement. The 2020 Nobel Memorial Prize in Economic Sciences was awarded to Robert Wilson and Paul Milgrom both for their contributions to the foundations of auction theory and for the development of largescale practical applications.

Book Reviews

2014 ◽  
Vol 52 (2) ◽  
pp. 548-549
Keyword(s):  
Law And Economics ◽  
Public Procurement ◽  
Associate Professor ◽  
Auction Theory ◽  
The European Union ◽  
Legal Regime ◽  
Industrial Economics ◽  
Antitrust Legislation ◽  
History Of ◽  
Bid Rigging

Brijesh P. Pinto and Michael A. Williams of Competition Economics LLC review “Cartels, Competition and Public Procurement: Law and Economics Approaches to Bid Rigging”, by Stefan E. Weishaar. The Econlit abstract of this book begins: “Explores the relationship between public procurement law and competition law in the area of bid rigging conspiracies from a law and economics perspective. Discusses economic theory on optimal deterrence and enforcement; industrial economics; auction theory and collusion; the effectiveness of the legal regime applicable to bid rigging in the European Union; the application of auction theory in Europe; the effectiveness of the legal regime applicable to bid rigging in China; the application of auction theory in China; the effectiveness of the legal regime applicable to bid rigging in Japan; the Japanese construction sector; and the limits of economic theories. Appendixes discuss Europe—an overview of public procurement law; China—an overview of public procurement law; and the history of Japanese antitrust legislation. Weishaar is Associate Professor of Law and Economics at the University of Groningen. Index.”

On Mechanisms of Realization of the Public Procurement of Construction Works (The Case of Road Const ruction)

2003 ◽  
pp. 68-80
Author(s):  
A. Dementiev ◽  
A. Zolotareva ◽  
A. Reus
Keyword(s):  
Public Procurement ◽  
Road Construction ◽  
International Experience ◽  
The Public ◽  
Government Purchases ◽  
Efficiency And Effectiveness ◽  
Construction Works ◽  
Budget Expenditure

The most important measures stimulating the increase of efficiency and effectiveness of budget expenditures on road construction are the improvement of pricing mechanisms and increasing efficiency of the procedures of government purchases of goods, works and services. The paper includes the analysis of main problems that arise in the process of government purchases and construction pricing with the reference to budget expenditure on road construction. It includes the review and analysis of international experience and possible measures of increasing the efficiency and effectiveness of government purchases and (road) construction pricing in Russia.

Public Procurement and Innovative Economy Forming

2010 ◽  
pp. 108-117 ◽  
Author(s):  
I. Smotritskaya ◽  
S. Chernykh
Keyword(s):  
Conceptual Framework ◽  
Public Procurement ◽  
Innovative Activity ◽  
Institutional Framework ◽  
Effective Management ◽  
Russian Economy ◽  
Public Resources ◽  
Innovative Economy ◽  
Procurement System

The article analyzes the conceptual framework of public procurement system as an integral part of public regulation to ensure effective management of public resources. The authors consider the problems of transition to a new "quality" of the procurement system, increasing its innovative activity. They put forward proposals for institutional framework and mechanisms of regulating procurement, meeting the needs in innovative upgrading and modernization of the Russian economy.

Timber Auctions in the Context of the Modern Auction Theory

2007 ◽  
pp. 86-94
Author(s):  
A. Manakov
Keyword(s):  
Theoretical Analysis ◽  
Auction Theory ◽  
Point Of View ◽  
Theoretical Point ◽  
English Auction ◽  
Analysis And Evaluation

The article provides theoretical analysis and evaluation of the timber auctions reforms in Russia. The author shows that the mechanism of the "combined auctions", which functioned until recently, is more appropriate from the theoretical point of view (and from the point of view of the Russian practice) as compared to the officially approved format of the English auction.

Analysis of relations in the state sector of Russian public procurement

2018 ◽  
pp. 106-126
Author(s):  
O. V. Anchishkina
Keyword(s):  
Current Practice ◽  
Public Procurement ◽  
The State ◽  
Market Failures ◽  
Administrative System ◽  
State Sector ◽  
Contractual Relations ◽  
State Organizations ◽  
State Organization ◽  
Negative Factors

The paper deals with a special sector of public procurement — G2G, in which state organizations act as both customers and suppliers. The analysis shows the convergence between contractual and administrative relations and risks of transferring the negative factors, responsible for market failures, into the administrative system, as well as the changing nature of the state organization. Budget losses in the sector G2G are revealed and estimated. There are doubts, whether the current practice of substitution of market-based instruments for administrative requirements is able to maintain integrity of public procurement in the situation of growing strategic challenges. Measures are proposed for the adjustment and privatization of contractual relations.

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