| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 5060600 | Economics Letters | 2012 | 4 Pages |
Abstract
⺠We analyze multi-attribute procurement auctions with risk-averse suppliers. ⺠We obtain equilibrium bidding strategies for first- and second-score auctions. ⺠Equilibrium bids decrease with the number of suppliers in the first-score auction. ⺠Equilibrium bids decrease with supplier risk aversion in the first-score auction. ⺠A buyer prefers the first-score auction when the suppliers are risk-averse.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Shulin Liu, Jun Li, De Liu,