Bidding for Contracts

William Samuelson
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William Samuelson: School of Management, Boston University, Boston, Massachusetts 02215

Management Science, 1986, vol. 32, issue 12, 1533-1550

Abstract: In a competitive procurement, a buyer seeks to institute a bidding and contracting procedure which selects the most efficient firm to undertake the contract while offering terms that promote risk sharing between buyer and contractor. This paper develops a model to analyze formally the trade-off between the objectives of risk sharing and efficient contractor selection.

Date: 1986
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Persistent link: https://EconPapers.repec.org/RePEc:inm:ormnsc:v:32:y:1986:i:12:p:1533-1550

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