On procurement auctions of complementary goods

  1. Grimm, Veronika
Aldizkaria:
Working papers = Documentos de trabajo: Serie AD

Argitalpen urtea: 2004

Zenbakia: 2

Mota: Laneko dokumentua

Laburpena

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.