Download or read book Procurement Incentives and Bargaining Friction written by John J. Horton and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: A transaction cost theory of procurement developed by Bajari and Tadelis (2001) models the buyer's choice of incentive structure as endogenous, with buyers trading off the efficiency of high-powered incentives against the ex post bargaining friction these incentives can create. The source of the bargaining friction is assumed to be asymmetric information between the buyer and seller about the true costs of adapting the project to changed conditions. Using government contract data and an instrument based on contracting-office idiosyncratic variation in preference for various contractual forms, I estimate the effect of a buyer choosing a fixed-price (i.e., high-powered) contract on the probability that the contract will lead to litigation, which proxies for bargaining failure and friction. I find that (a) fixed-price contracts are far more likely to be litigated that cost-plus contracts and (b) the instrumental variables estimate of the effect of choosing a fixed-price structure is almost twice as larges as the biased, OLS estimate. These results are consistent with the main predictions of the Bajari and Tadelis model.
Download or read book Public Procurement and the EU Competition Rules written by Albert Sánchez Graells and published by Bloomsbury Publishing. This book was released on 2011-01-29 with total page 480 pages. Available in PDF, EPUB and Kindle. Book excerpt: Shortlisted for the 2012 Prix Vogel in Economic Law. Public procurement and competition law are both important fields of EU law and policy, intimately intertwined in the creation of the internal market. Hitherto their close connection has been noted, but not closely examined. This new work is the most comprehensive attempt to date to explain the many ways in which these fields, often considered independent of one another, interact and overlap in the creation of the internal market. In this process of convergence between competition and public procurement law , the need for this joint study is clearly apparent. As such the book asks whether competition law principles inform or condition public procurement rules, and whether they are adequate to ensure that competition is not distorted in markets where public procurement is particularly significant. The book moves away from the classical focus of public procurement on the activities of private actors, developing instead an analytical framework for the appraisal of the market behaviour of the public buyer from a competition perspective. The analysis is both legal and economic. Proceeding through a careful assessment of the general rules of competition and public procurement, the book constantly tests the efficacy of the rules in competition and public procurement against a standard of the proper functioning of undistorted competition in the market for public procurement.
Download or read book Financial incentives and negotiation tactics in procurement management written by Ali Hotait and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Swing Pricing and Fragility in Open end Mutual Funds written by Dunhong Jin and published by International Monetary Fund. This book was released on 2019-11-01 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: How to prevent runs on open-end mutual funds? In recent years, markets have observed an innovation that changed the way open-end funds are priced. Alternative pricing rules (known as swing pricing) adjust funds’ net asset values to pass on funds’ trading costs to transacting shareholders. Using unique data on investor transactions in U.K. corporate bond funds, we show that swing pricing eliminates the first-mover advantage arising from the traditional pricing rule and significantly reduces redemptions during stress periods. The positive impact of alternative pricing rules on fund flows reverses in calm periods when costs associated with higher tracking error dominate the pricing effect.
Download or read book Public Technology Procurement and Innovation written by Charles Edquist and published by Springer Science & Business Media. This book was released on 2000 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt: Public Technology Procurement and Innovation studies public technology procurement as an instrument of innovation policy. In the past few years, public technology procurement has been a relatively neglected topic in the theoretical and research literature on the economics of innovation. Similarly, preoccupation with `supply-side' measures has led policy-makers to avoid making very extensive use of this important `demand-side' instrument. These trends have been especially pronounced in the European Union. There, as this book will argue, existing legislation governing public procurement presents obstacles to the use of public technology procurement as a means of stimulating and supporting technological innovation. Recently, however, there has been a gradual re-awakening of practical interest in such measures among policy-makers in the EU and elsewhere. For these and other related measures, this volume aims to contribute to a serious reconsideration of public technology procurement from the complementary standpoints of innovation theory and innovation policy.
Download or read book Putting Auction Theory to Work written by Paul Milgrom and published by Cambridge University Press. This book was released on 2004-01-12 with total page 378 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a comprehensive introduction to modern auction theory and its important new applications. It is written by a leading economic theorist whose suggestions guided the creation of the new spectrum auction designs. Aimed at graduate students and professionals in economics, the book gives the most up-to-date treatments of both traditional theories of 'optimal auctions' and newer theories of multi-unit auctions and package auctions, and shows by example how these theories are used. The analysis explores the limitations of prominent older designs, such as the Vickrey auction design, and evaluates the practical responses to those limitations. It explores the tension between the traditional theory of auctions with a fixed set of bidders, in which the seller seeks to squeeze as much revenue as possible from the fixed set, and the theory of auctions with endogenous entry, in which bidder profits must be respected to encourage participation.
Download or read book Restructuring Trade Agreements written by Juscelino F. Colares and published by Kluwer Law International B.V.. This book was released on 2021-07-27 with total page 191 pages. Available in PDF, EPUB and Kindle. Book excerpt: To avoid trade-bargain erosion, countries involved in large-scale, bilateral or regional trade arrangements must reconcile preserving close economic ties and supply chains with the need to dynamically adjust to new opportunities with other partners. Using the growing deterioration of the European Union-Turkey Customs Union as an illustration to a new model of trade-agreement restructuring, this well-researched and deeply insightful book outlines and demonstrates how this trade arrangement can be successfully renegotiated, thus providing expert practical guidance in a crucial area of trade law and policy that rarely receives the attention it deserves. The book's novel framework features a clearly articulated legal foundation, a transactional deployment strategy, and a sequential negotiating approach applicable to bilateral and regional trade arrangements whose original terms no longer reflect the changed capabilities and interests of at least one of its parties. The authors respond in detail to questions, such as: When should a country pursue bargain rebalancing? How should trade diplomats pursue renegotiation and/or new partnerships, legally and transactionally? Given that free trade agreements keep each country’s trade sovereignty mostly intact, under which circumstances should a country ever consider entering a customs union? How may free-trade agreements help countries address trade imbalances while enhancing supply chain resilience? What are the limits to WTO litigation as an effective market-barrier-opening tool? How should trade-agreement restructuring be deployed as a path to further trade liberalization? In-depth attention is paid to identifying and investigating trade arrangements that are ripe for renegotiation and assessing sources of domestic and external support for or against renegotiating such bargains. This book’s model of international trade-agreement restructuring fits well with emerging thinking on greater trade diversification and supply-chain resilience. The authors provide a clear, actionable approach for considering and conducting the renegotiation of trade deals. For these reasons, this book will be welcomed by trade lawyers, supply-chain executives, economists, government officials, and academics who are grappling with rising economic frictions in the fault lines of national sovereignty, economic interdependence, and the limits of current trade arrangements.
Download or read book High Performance Government written by Robert Klitgaard and published by Rand Corporation. This book was released on 2005-03-24 with total page 496 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 2003, the National Commission on the Public Service, chaired by Paul Volcker, issued a report detailing problems within the federal government today and recommending changes in its organization, leadership, and operations. This book suggests practical ways to implement the recommendations and defines a research agenda for the future. Thirteen essays address the primary problem areas identified by the Volcker Commission, and the commission report itself is included.
Download or read book The Strategic Constitution written by Robert D. Cooter and published by Princeton University Press. This book was released on 2020-06-30 with total page 435 pages. Available in PDF, EPUB and Kindle. Book excerpt: Making, amending, and interpreting constitutions is a political game that can yield widespread suffering or secure a nation's liberty and prosperity. Given these high stakes, Robert Cooter argues that constitutional theory should trouble itself less with literary analysis and arguments over founders' intentions and focus much more on the real-world consequences of various constitutional provisions and choices. Pooling the best available theories from economics and political science, particularly those developed from game theory, Cooter's economic analysis of constitutions fundamentally recasts a field of growing interest and dramatic international importance. By uncovering the constitutional incentives that influence citizens, politicians, administrators, and judges, Cooter exposes fault lines in alternative forms of democracy: unitary versus federal states, deep administration versus many elections, parliamentary versus presidential systems, unicameral versus bicameral legislatures, common versus civil law, and liberty versus equality rights. Cooter applies an efficiency test to these alternatives, asking how far they satisfy the preferences of citizens for laws and public goods. To answer Cooter contrasts two types of democracy, which he defines as competitive government. The center of the political spectrum defeats the extremes in "median democracy," whereas representatives of all the citizens bargain over laws and public goods in "bargain democracy." Bargaining can realize all the gains from political trades, or bargaining can collapse into an unstable contest of redistribution. States plagued by instability and contests over redistribution should move towards median democracy by increasing transaction costs and reducing the power of the extremes. Specifically, promoting median versus bargain democracy involves promoting winner-take-all elections versus proportional representation, two parties versus multiple parties, referenda versus representative democracy, and special governments versus comprehensive governments. This innovative theory will have ramifications felt across national and disciplinary borders, and will be debated by a large audience, including the growing pool of economists interested in how law and politics shape economic policy, political scientists using game theory or specializing in constitutional law, and academic lawyers. The approach will also garner attention from students of political science, law, and economics, as well as policy makers working in and with new democracies where constitutions are being written and refined.
Download or read book Double Edged Diplomacy written by Peter Evans and published by Univ of California Press. This book was released on 2023-04-28 with total page 507 pages. Available in PDF, EPUB and Kindle. Book excerpt: This original look at the dynamics of international relations untangles the vigorous interaction of domestic and international politics on subjects as diverse as nuclear disarmament, human rights, and trade. An eminent group of political scientists demonstrates how international bargaining that reflects domestic political agendas can be undone when it ignores the influence of domestic constituencies. The eleven studies in Double-Edged Diplomacy provide a major step in furthering a more complete understanding of how politics between nations affects politics within nations and vice versa. The result is a striking new paradigm for comprehending world events at a time when the global and the domestic are becoming ever more linked. This title is part of UC Press's Voices Revived program, which commemorates University of California Press's mission to seek out and cultivate the brightest minds and give them voice, reach, and impact. Drawing on a backlist dating to 1893, Voices Revived makes high-quality, peer-reviewed scholarship accessible once again using print-on-demand technology. This title was originally published in 1995. This original look at the dynamics of international relations untangles the vigorous interaction of domestic and international politics on subjects as diverse as nuclear disarmament, human rights, and trade. An eminent group of political scientists demons
Download or read book The Handbook of Negotiation and Culture written by Michele J. Gelfand and published by Stanford University Press. This book was released on 2004 with total page 478 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the global marketplace, negotiation frequently takes place across cultural boundaries, yet negotiation theory has traditionally been grounded in Western culture. This book, which provides an in-depth review of the field of negotiation theory, expands current thinking to include cross-cultural perspectives. The contents of the book reflect the diversity of negotiationresearch-negotiator cognition, motivation, emotion, communication, power and disputing, intergroup relationships, third parties, justice, technology, and social dilemmasand provides new insight into negotiation theory, questioning assumptions, expanding constructs, and identifying limits not apparent from working exclusively within one culture. The book is organized in three sections and pairs chapters on negotiation theory with chapters on culture. The first part emphasizes psychological processescognition, motivation, and emotion. Part II examines the negotiation process. The third part emphasizes the social context of negotiation. A final chapter synthesizes the main themes of the book to illustrate how scholars and practitioners can capitalize on the synergy between culture and negotiation research.
Download or read book Journal of Institutional and Theoretical Economics written by and published by . This book was released on 1991 with total page 828 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Construction Contracting written by Stuart H. Bartholomew and published by . This book was released on 1998 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt: Exceptionally practical and authoritative, this introduction to construction contracting as it applies to typical, every-day situations explains theoretical ideas in terms of what really happens in practice.* Reflects the authors extensive experience as an educator and in the contracting field at virtually every position - from junior engineer to Executive Vice President and Director of a major national construction contracting company. * The author has personally experienced in practice every concept covered. * Examines the more common case law holdings and the customs and practices of the industry. * Relies on case law extensively to explain and illustrate how courts/boards/arbitrators view the typical legal problems that occur in contracting practice. * Presents the clear contractual basis of the normal relationship of the various parties to the construction process in the United States today. * Explains how to read and identify the key or red flag clauses in prime contracts for the provision of construction services. * Systematically examines a number of construction-related contracts common to the industry (other than the prime construction contract), e.g.: * Labor agree
Download or read book The Distribution of Wealth written by John Bates Clark and published by . This book was released on 1899 with total page 490 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Many Faces of Corruption written by J. Edgardo Campos and published by World Bank Publications. This book was released on 2007-04-04 with total page 484 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corruption... How can policymakers and practitioners better comprehend the many forms and shapes that this socialpandemic takes? From the delivery of essential drugs, the reduction in teacher absenteeism, the containment of illegal logging, the construction of roads, the provision of water andelectricity, the international trade in oil and gas, the conduct of public budgeting and procurement, and the management of public revenues, corruption shows its many faces. 'The Many Faces of Corruption' attempts to bring greater clarity to the often murky manifestations of this virulent and debilitating social disease. It explores the use of prototype road maps to identify corruption vulnerabilities, suggests corresponding 'warning signals,' and proposes operationally useful remedial measures in each of several selected sectors and for a selected sampleof cross cutting public sector functions that are particularlyprone to corruption and that are critical to sector performance.Numerous technical experts have come together in this effort to develop an operationally useful approach to diagnosing and tackling corruption. 'The Many Faces of Corruption' is an invaluable reference for policymakers, practitioners, andresearchers engaged in the business of development.
Download or read book Entrepreneurship written by Marc J. Dollinger and published by . This book was released on 2003 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: For junior/senior/graduate-level courses in Entrepreneurship, New Venture Creation, and Small Business Strategy. Based on the premise that entrepreneurship can be studied systematically, this text offers a comprehensive presentation of the best current theory and practice. It takes a resource-based point-of-view, showing how to acquire and use resources and assets for competitive advantage. FOCUS ON THE NEW ECONOMY * NEW-Use of the Internet-Integrated throughout with special treatment in Ch. 6. * Demonstrates to students how the new economy still follows many of the rigorous rules of economics, and gives them examples of business-to-business and business-to-customer firms so that they can build better business models. * NEW-2 added chapters on e-entrepreneurship-Covers value pricing; market segmentation; lock-in; protection of intellectual property; and network externalities. * Examines the new economy and the types of resources, capabilities, and strategies that are needed for success in the Internet world. * Resource-based theory-Introduced in Ch. 2 and revisited in each subsequent chapter to help tie concepts together. * Presents an overarching framework, and helps students focu
Download or read book Computerworld written by and published by . This book was released on 2002-06-10 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: For more than 40 years, Computerworld has been the leading source of technology news and information for IT influencers worldwide. Computerworld's award-winning Web site (Computerworld.com), twice-monthly publication, focused conference series and custom research form the hub of the world's largest global IT media network.
