Public procurement in times of crisis: The bundling decision reconsidered
研究了政府在预算约束下，是否应将两个任务捆绑给一个承包商还是分开给两个承包商，以最优地激励承包商付出努力。
The government wants two tasks to be performed. In each task, unobservable effort can be exerted by a wealth-constrained private contractor. If the government faces no binding budget constraints, it is optimal to bundle the tasks. The contractor in charge of both tasks then gets a bonus payment if and only if both tasks are successful. Yet, if the government has only a limited budget, it may be optimal to separate the tasks, so that there are two contractors each in charge of one task. In this case, high efforts in both tasks can be implemented with smaller bonus payments.