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dc.contributor.author
Arozamena, Leandro Roberto

dc.contributor.author
Weinschelbaum, Federico

dc.contributor.author
Wolfstetter, Elmar G.
dc.date.available
2020-04-14T15:12:06Z
dc.date.issued
2018-10
dc.identifier.citation
Arozamena, Leandro Roberto; Weinschelbaum, Federico; Wolfstetter, Elmar G.; Procuring substitutes with (fine-tuned) first-price auctions; North-holland; Economics Letters; 171; 10-2018; 115-118
dc.identifier.issn
0165-1765
dc.identifier.uri
http://hdl.handle.net/11336/102453
dc.description.abstract
Suppose a firm uses inputs that are substitutes. Each input is supplied by a single contractor. The firm would like to make suppliers compete. However, since inputs are imperfect substitutes, resorting to winner-take-all competition may not be an attractive option. We allow the firm to use a modified firstprice auction. It announces demand functions for each input and contractors simultaneously bid unit prices and sell according to announced input demands. We show that the firm has an incentive to announce demands that overstate input substitutability and understate its willingness to pay. In the extreme inputs are treated as perfect substitutes even if goods are independent.
dc.format
application/pdf
dc.language.iso
eng
dc.publisher
North-holland

dc.rights
info:eu-repo/semantics/openAccess
dc.rights.uri
https://creativecommons.org/licenses/by-nc-sa/2.5/ar/
dc.subject
Procurement Auctions
dc.subject
Mechanism Dessign
dc.subject
Auctions
dc.subject.classification
Organización Industrial

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Economía y Negocios

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CIENCIAS SOCIALES

dc.title
Procuring substitutes with (fine-tuned) first-price auctions
dc.type
info:eu-repo/semantics/article
dc.type
info:ar-repo/semantics/artículo
dc.type
info:eu-repo/semantics/publishedVersion
dc.date.updated
2020-02-18T16:09:37Z
dc.journal.volume
171
dc.journal.pagination
115-118
dc.journal.pais
Países Bajos

dc.journal.ciudad
Amsterdam
dc.description.fil
Fil: Arozamena, Leandro Roberto. Universidad Torcuato Di Tella. Departamento de Economía; Argentina. Consejo Nacional de Investigaciones Científicas y Técnicas; Argentina
dc.description.fil
Fil: Weinschelbaum, Federico. Universidad Torcuato Di Tella. Departamento de Economía; Argentina. Consejo Nacional de Investigaciones Científicas y Técnicas; Argentina
dc.description.fil
Fil: Wolfstetter, Elmar G.. Humboldt University of Berlin; Alemania. Korea University; Corea del Sur
dc.journal.title
Economics Letters

dc.relation.alternativeid
info:eu-repo/semantics/altIdentifier/doi/https://doi.org/10.1016/j.econlet.2018.07.021
dc.relation.alternativeid
info:eu-repo/semantics/altIdentifier/url/https://www.sciencedirect.com/science/article/abs/pii/S0165176518302751
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