Research on Equipment Procurement Contract Performance Evaluation

Optimal Dynamic Contract for Electricity Procurement∗

Bilateral procurement contracts in the electricity industry use fixed unit prices to settle payments and deliveries. This type of purchasing arrangement creates perverse production incentives and ignores dynamic uncertainties that are inherent in electricity markets. We consider a continuous-time contracting environment, in which the electricity price is modeled as a mean reversion jump diffusi...

Maintenance Contract Model for Complex Asset/Equipment

Awarding Price, Contract Performance and Bids Screening: Evidence from Procurement Auctions

This paper presents evidence on the perverse trade-off that first price auctions induce between low prices at the awarding stage and poor ex post performance when bids are not binding commitments. By exploiting the different timing with which first price auctions were introduced in Italy to procure public works, this study finds that at least half of the cost savings from lower winning prices a...

Improving Performance of Mining Equipment Through Enhancement of Speed Factor: A Case Study (Research Note)

Loading and hauling machineries are highly capital intensive equipment to procure, operate and maintain in surface mining operation. It must be borne in mind that with this huge and capital-intensive equipment, every second of its life time is absolutely important from the production and productivity point of view. As such, it is imperative to optimize the overall cycle time and speed factor of...

A Study on Performance and Safety Tests of Electrosurgical Equipment

Introduction: Modern medicine employs a wide variety of instruments with different physiological effects and measurements. Periodic verifications are routinely used in legal metrology for industrial measuring instruments. The correct operation of electrosurgical generators is essential to ensure patient’s safety and management of the risks associated with the use of high and low frequency ele...