Sequential procurement auctions and their effect on investment decisions
We characterize the optimal mechanism and investment level in an environment where (i) two projects of independent costs are purchased sequentially, (ii) the buyer can commit to a two-period mechanism, and (iii) the winner of the first project can invest in a cost-reducing technology between auction...
| Main Authors: | , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Wiley,
2019-03-11T15:57:38Z.
|
| Subjects: | |
| Online Access: | Get fulltext |