Competitive procurement contracting when risk-preferences are uncertain
نویسندگان
چکیده
منابع مشابه
Competitive Equilibrium when Preferences
We show the existence of a competitive equilibrium in an economy with many consumers whose preferences may change over time. The demand correspondence of an individual consumer is determined by the set of subgameperfect equilibrium outcomes in his or her intrapersonal game. For additively separable preferences with continuous period utility functions that are unbounded above, this demand corres...
متن کاملWhy (and When) Are Preferences Convex? Threshold Effects and Uncertain Quality
It is often assumed (for analytical convenience, but also in accordance with common intuition) that consumer preferences are convex. In this paper, we consider circumstances under which such preferences are (or are not) optimal. In particular, we investigate a setting in which goods possess some hidden quality with known distribution, and the consumer chooses a bundle of goods that maximizes th...
متن کاملCompetitive procurement with corruption
We study competitive procurement administered by a corrupt agent who is willing to manipulate his evaluation of contract proposals in exchange for bribes. With complete information and no corruption, the efficient firm will win the contract for sure. If the agent is corrupt and has large manipulation power, however, bribery makes it costly for the efficient firm to secure a sure win, so in equi...
متن کاملPoverty Orderings when Welfare Comparisons are Uncertain
In applied welfare economics, equivalence scales for household composition and size corrections, and appropriate price de‡ators are minimum requirements to perform interhousehold comparisons of welfare, measured via household income or consumption information. In practice, the information available is insu¢cient and only approximate price or household composition corrections are available. Pove...
متن کاملRisk Preferences and Contracting In the U.S. Hog Industry
Much of the increaseuse of vertical coordinationin [he U.S. swine industry has taken place through contract production. While the incidence of contracting is much higher in nontraditional hog production areas, a growing number of Midwestern producers are being faced with contract options. A variety of contractual arrangements are available through feed companies, integrators, genetics i%-rns,an...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Mathematical Modelling
سال: 1986
ISSN: 0270-0255
DOI: 10.1016/0270-0255(86)90053-9