Bidding for Contracts
建立模型分析采购中风险分担与高效承包商选择之间的权衡，帮助理解竞标合同设计。
In a competitive procurement, a buyer seeks to institute a bidding and contracting procedure which selects the most efficient firm to undertake the contract while offering terms that promote risk sharing between buyer and contractor. This paper develops a model to analyze formally the trade-off between the objectives of risk sharing and efficient contractor selection.