haku: @indexterm Games / yhteensä: 259
viite: 126 / 259
| Tekijä: | Cox, J. |
| Otsikko: | Moral hazard and adverse selection in procurement contracting |
| Lehti: | Games and Economic Behavior
1996 : DEC, VOL. 17:2, p. 147-176 |
| Asiasana: | ECONOMICS GAMES ADVERSE SELECTION |
| Kieli: | eng |
| Tiivistelmä: | A model of procurement contracting is developed and tested in laboratory experiments. Market performance results are presented for both fixed-price and cost-sharing contracts. Contracts are awarded with first-price sealed-bid or second-price sealed bid auctions. The environment contains post-auction cost uncertainty and opportunity for unmonitored effort in contract cost reduction. Cost-sharing contracts are found to reduce procurement expense but also to be inefficient because of their induced moral hazard waste and cost overruns. |
SCIMA