Endogenous asymmetry in a dynamic procurement auction.
We show how to numerically solve for a Markov-perfect equilibrium of a dynamic auction game where a procurer repeatedly purchases construction services from capacity-constrained firms. We find that the procurer is best off scheduling frequent auctions for small project sizes. Otherwise, firm capacit...
| Publicado en: | RAND Journal of Economics (Wiley-Blackwell) Vol. 43; no. 4; pp. 726 - 761 |
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| Formato: | Artículo |
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Wiley-Blackwell
Winter2012
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| Acceso en línea: | Ver este registro en EBSCOhost |