Difference between revisions of "Goldberg (1977) - Competitive Bidding And The Production Of Precontract Information"
imported>Ed (New page: ==Reference(s)== Goldberg, Victor P. (1977) "Competitive Bidding and the Production of Precontract Information," Bell Journal of Economics, 8:250-261 [http://www.edegan.com/pdfs/Goldberg%2...) |
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==Reference(s)== | ==Reference(s)== | ||
Goldberg, Victor P. (1977) "Competitive Bidding and the Production of Precontract Information," Bell Journal of Economics, 8:250-261 [http://www.edegan.com/pdfs/Goldberg%20(1977)%20-%20Competitive%20Bidding%20and%20the%20Production%20of%20Precontract%20Information.pdf pdf] | Goldberg, Victor P. (1977) "Competitive Bidding and the Production of Precontract Information," Bell Journal of Economics, 8:250-261 [http://www.edegan.com/pdfs/Goldberg%20(1977)%20-%20Competitive%20Bidding%20and%20the%20Production%20of%20Precontract%20Information.pdf pdf] | ||
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==Abstract== | ==Abstract== | ||
This note is concerned with the effects of contractual complexity on the precontract bidding process. Competitive bidding is seen to be a heterogeneous class of devices for transmitting information between organizations. Even for rather simple contracts (e.g., Demsetz' license plates contract), the purchaser is seldom interested solely in price - he is interested in acquiring and providing information as well. For complex contracts, such as a fifteen-year cable television fran- chise, the information problems tend to dominate. The implications of locating the liability for provision of precontract information on providers and on purchasers are considered. | This note is concerned with the effects of contractual complexity on the precontract bidding process. Competitive bidding is seen to be a heterogeneous class of devices for transmitting information between organizations. Even for rather simple contracts (e.g., Demsetz' license plates contract), the purchaser is seldom interested solely in price - he is interested in acquiring and providing information as well. For complex contracts, such as a fifteen-year cable television fran- chise, the information problems tend to dominate. The implications of locating the liability for provision of precontract information on providers and on purchasers are considered. | ||
Revision as of 17:50, 31 May 2010
- This page is referenced in BPP Field Exam Papers
Reference(s)
Goldberg, Victor P. (1977) "Competitive Bidding and the Production of Precontract Information," Bell Journal of Economics, 8:250-261 pdf
Abstract
This note is concerned with the effects of contractual complexity on the precontract bidding process. Competitive bidding is seen to be a heterogeneous class of devices for transmitting information between organizations. Even for rather simple contracts (e.g., Demsetz' license plates contract), the purchaser is seldom interested solely in price - he is interested in acquiring and providing information as well. For complex contracts, such as a fifteen-year cable television fran- chise, the information problems tend to dominate. The implications of locating the liability for provision of precontract information on providers and on purchasers are considered.
