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Auctioning Off Budgets in Procurement

DOI zum Zitieren der Version auf EPub Bayreuth: https://doi.org/10.15495/EPub_UBT_00009081
URN to cite this document: urn:nbn:de:bvb:703-epub-9081-4

Title data

Rottner, Claudio:
Auctioning Off Budgets in Procurement.
In: The RAND Journal of Economics. Vol. 56 (2025) Issue 4 . - pp. 655-667.
ISSN 1756-2171
DOI der Verlagsversion: https://doi.org/10.1111/1756-2171.70028

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Abstract

This article investigates a multi-unit pay-as-bid procurement auction where the auctioneer fixes total spending and maximizes the quantity procured with their predetermined, secret budget. Previous literature has analyzed fixed-quantity auctions, where the traded quantity is fixed but unknown to the bidders. Compared to such auctions, budget auctions lower the auctioneer’s costs by introducing an additional interaction between a bidder’s bids; bidders not only weigh a higher profit margin on a unit against a lower probability of supplying that unit; a higher margin on some unit also reduces the probability that the budget suffices to procure more units from the bidder.

Further data

Item Type:	Article in a journal
Keywords:	reverse auction; multi-unit auction; procurement; pay-as-bid
Subject classification:	C72, D44, H57
DDC Subjects:	300 Social sciences > 330 Economics
Institutions of the University:	Faculties > Faculty of Law, Business and Economics > Department of Business Administration > Chair Business Administration XI - Technology and Innovation Management > Chair Business Administration XI - Technology and Innovation Management - Univ.-Prof. Dr. Stefan Seifert Graduate Schools > University of Bayreuth Graduate School Faculties Faculties > Faculty of Law, Business and Economics Faculties > Faculty of Law, Business and Economics > Department of Business Administration Faculties > Faculty of Law, Business and Economics > Department of Business Administration > Chair Business Administration XI - Technology and Innovation Management Graduate Schools
Language:	English
Originates at UBT:	Yes
URN:	urn:nbn:de:bvb:703-epub-9081-4
Date Deposited:	07 Apr 2026 11:28
Last Modified:	07 Apr 2026 11:29
URI:	https://epub.uni-bayreuth.de/id/eprint/9081

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