Electronic reverse auctions are the most used competitive method for procurement of goods and non-consulting services by the Federal Government of Brazil. These auctions are closed randomly, which perfectly satisfies fairness considerations but may be suboptimal from an efficiency perspective. There are concerns that tenders are closed too early and randomness favors bidders with algorithmic bidding software, leading to high prices. Hence, this paper...
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INFORMACIÓN
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2019/04/22
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Documento de trabajo sobre investigaciones relativas a políticas
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WPS8828
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1
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1
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2019/04/22
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Disclosed
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Auction Length and Prices : Evidence from Random Auction Closing in Brazil
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ordinary least squares regression