Procurement Auctions with Renegotiation and Endogenous Liability
2018/08/28
研討會日期 : 2018-08-28
時間 : 14:30
主講人 : Professor Wei-Shiun Chang (張巍勳)
主持人 : Professor Tzu-Ting Yang
地點 : Conference Room B110
演講者簡介 : Professor Chang received his Ph.D. in Economics from Florida State University. He is currently an Assistant Professor at Institute of International Management, National Cheng-Kung University. His research expertises are Behavioral Operations Management (BOM), Supply Chain, Procurement Auctions, Entrepreneurial Management.
演講摘要 : We study the effects of the spin-off option on procurement auctions with renegotiation in the common cost environment. The outcome of procurement auctions has been depicted theoretically and examined experimentally. We specifically focus on the impact of a spin-off on the sellers’ spin-off decisions, bidding strategies, and renegotiation behaviors with the buyers. Our data shows that sellers become more aggressive in bidding and renegotiation when the spin-off option is available in the market. Consequentially, procurers’ surplus drops substantially. This finding suggests that procurers should use renegotiation with caution since, in practice, spin-offs may be widely used and procurers may end up worse off.
