Procuring price and quality using scoring auctions: where do we stand?
Riccardo Camboni Marchi Adani (riccardo.camboni@unipd.it)
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Riccardo Camboni Marchi Adani: University of Padova
Economia e Politica Industriale: Journal of Industrial and Business Economics, 2018, vol. 45, issue 1, No 3, 17-36
Abstract:
Abstract This study assesses the rapidly growing literature on scoring rule auctions (SRA), in which all participants submit a multidimensional bid comprising prices and levels of one or more qualities. These elements are weighted using a linear combination, that is, the scoring function. The result of this function is a score and the bid that obtains the highest score is awarded the contract. We provide a comprehensive overview of key theoretical and empirical results. In addition, we discuss structural estimation techniques applied to SRA and we conclude with three main limitations of this awarding mechanism.
Keywords: Scoring rule auctions; Public procurement; Literature review (search for similar items in EconPapers)
JEL-codes: D44 D73 H57 (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:spr:epolin:v:45:y:2018:i:1:d:10.1007_s40812-017-0088-3
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DOI: 10.1007/s40812-017-0088-3
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Economia e Politica Industriale: Journal of Industrial and Business Economics is currently edited by C. Cambini, M.G. Colombo, L. Piscitello, L. Rondi and A. Zanfei
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