Yardstick Based Procurement Design In Natural Resource Management

Peter Bogetoft and Kurt Nielsen

No 25910, 2003 Annual Meeting, August 16-22, 2003, Durban, South Africa from International Association of Agricultural Economists

Abstract: This paper discuss the design of multidimensional yardstick based procurement auction. The suggested design combines Data Envelopment Analysis (DEA) based yardstick schemes with the multidimensional score auction. The principal select a single winner to perform a project, characterized by a multidimensional vector. The design is especially useful when there are uncertainty about the underlying common cost structure as well as the principal's valuation function. Potential applications in natural resource management is provided.

Keywords: Resource/Energy; Economics; and; Policy (search for similar items in EconPapers)
Pages: 26
Date: 2003
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Persistent link: https://EconPapers.repec.org/RePEc:ags:iaae03:25910

DOI: 10.22004/ag.econ.25910

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