publication . Report . Article . 2014

Towards a More Competitive PPP Procurement Market: A Game-Theoretical Analysis

Dennis De Clerck; Erik Demeulemeester;
Open Access English
  • Published: 01 May 2014
  • Publisher: Leuven (Belgium)
  • Country: Belgium
Abstract
Due to the extensive timeframes and the transfer of risk towards the preferred special purpose vehicle, there is more value at stake in public-private partnership projects in relation to traditional public procurement projects. The contractual complexity and the high bidding cost are open sesames for inexperienced contractors to refrain from the opportunity. Governments are currently seeking for mechanisms to increase competition, like reimbursing losing bidders for their research efforts. This study encompasses the bidding framework in a game-theoretical fashion while taking discrepancies in the bidders’ experience levels into account. A contractor’s strategy i...
Subjects
free text keywords: Public-private partnership procurement, Project management, Bidding, Game theory, Simulation, Microeconomics, Special purpose entity, Economics, Procurement, Project risk management, General partnership, Oligopoly, Commerce, Nash equilibrium, symbols.namesake, symbols
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