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Bilateral communication in procurement auctions

Citation Link: https://doi.org/10.15480/882.9665
Publikationstyp
Journal Article
Date Issued
2024-06-04
Sprache
English
Author(s)
Brosig-Koch, Jeannette  
Heinrich, Timo  orcid-logo
Digital Economics W-5  
Sterner, Martin  orcid-logo
Digital Economics W-5  
TORE-DOI
10.15480/882.9665
TORE-URI
https://hdl.handle.net/11420/47807
Journal
Managerial and decision economics  
Volume
45
Issue
5
Start Page
3047
End Page
3067
Citation
Managerial and decision economics 45 (5): 3047-3067 (2024)
Publisher DOI
10.1002/mde.4166
Scopus ID
2-s2.0-85189548291
Publisher
Wiley
Peer Reviewed
true
We ask how buyers can make use of bilateral communication in a procurement set- ting with moral hazard. We focus on a setting where buyers and potential sellers can exchange cheap-talk messages before trading and where the seller is determined via a buyer-determined procurement auction. In this type of auction, buyers can freely choose among bidders based on bidders' observable characteristics and the prices they ask for. In a controlled laboratory experiment, we found that buyers use free- form text messages to make requests and to reduce social distance. The relationship between the offers sellers make and the messages they send is mediated by buyers' requests. But, in general, buyers may increase their profits by choosing sellers who promise high quality or large profits. Furthermore, despite the cheap-talk nature of requests, buyers in our experiment increase their profits by specifically demanding high quality or large profits.
DDC Class
330: Economics
658: General Managament
Funding(s)
Projekt DEAL  
Publication version
publishedVersion
Lizenz
https://creativecommons.org/licenses/by/4.0/
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