| 来源类型 | FEEM working papers "Note di lavoro" series |
| 规范类型 | 论文 |
| Bidding for Incompete Contracts | |
| Patrick Bajari; Stephanie Houghton; Steven Tadelis | |
| 发表日期 | 2004 |
| 出处 | Economy and Society |
| 出版年 | 2004 |
| 语种 | 英语 |
| 摘要 | When procurement contracts are incomplete, they are frequently changed after the contract is awarded to the lowest bidder. This results in a final cost that differs from the initial price, and may involve significant transaction costs due to renegotiation. We propose a stylized model of bidding for incomplete contracts and apply it to data from highway repair contracts. We estimate the magnitude of transaction costs and their impact using both reduced form and fully structural models. Our results suggest that transactions costs are a significant and important determinant of observed bids, and that bidders strategically respond to contractual incompleteness. Our findings point at disadvantages of the traditional bidding process that are a consequence of transaction costs from contract adaptations. |
| 特色分类 | D23,D82,H57,L14,L22,L74 |
| 关键词 | Procurement,Construction |
| URL | https://www.feem.it/en/publications/feem-working-papers-note-di-lavoro-series/bidding-for-incompete-contracts/ |
| 来源智库 | Fondazione Eni Enrico Mattei (Italy) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/117092 |
| 推荐引用方式 GB/T 7714 | Patrick Bajari,Stephanie Houghton,Steven Tadelis. Bidding for Incompete Contracts. 2004. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| NDL2004-141.pdf（786KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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