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• W1917073843 abstract "This contribution revisits the problem of allocating R&D subsidies by government agencies. Typically, the applicants’ financial constraints are private information. The literature has recommended the use of auctions in order to reduce information rents and thus improve the efficiency of how scarce public funds are allocated. We propose a new open clock auction for this procurement problem. This auction is strategically simple, as it exhibits truthtelling in dominant strategies and satisfies ex-post rationality, while observing the budget constraint. We test the auction in Monte-Carlo simulation and discuss its applicability and limitations. Moreover, we highlight connections to recent advances in computer science." @default.
• W1917073843 created "2016-06-24" @default.
• W1917073843 creator A5040571732 @default.
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• W1917073843 date "2014-02-01" @default.
• W1917073843 modified "2023-10-02" @default.
• W1917073843 title "A dynamic auction for multi-object procurement under a hard budget constraint" @default.
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• W1917073843 doi "https://doi.org/10.1016/j.respol.2013.06.011" @default.
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