JOINT BIDDING,GOVERNANCE AND PUBLIC PROCUREMENT COSTS:A CASE OF ROAD PROJECTS*

ABSTRACT *** : To utilize public resources efficiently, it is important to take advantage of competition in public procurement auctions to the maximum extent. Joint bidding is a common practice that potentially facilitates competition. By pooling financial and experiential resources, more firms are expected to enter the market, but it will also directly reduce competition if more than one bidder who is solely qualified makes a coalition. In theory joint bidding may or may not be beneficial to auctioneers, depending on the model. The paper empirically examines the impacts of joint bidding on firms' entry as well as bidding behaviour, using data on public road projects in developing countries. It shows that coalitional bids, in particular by local firms, would be competitive, but foreign joint ventures would undermine competition. It is also found that good governance can encourage firms' entry into the tendering and facilitate joint bidding practices.     

A generalized maximum entropy (GME) approach for crisp-input/fuzzy-output regression model

In this paper we present a crisp-input/fuzzy-output regression model based on the rationale of generalized maximum entropy (GME) method. The approach can be used in several situations in which one have to handle with particular problems, such as small samples, ill-posed design matrix (e.g., due to the multicollinearity), estimation problems with inequality constraints, etc. After having described the GME-fuzzy regression model, we consider an economic case study in which the features provided from GME approach are evaluated. Moreover, we also perform a sensitivity analysis on the main results of the case study in order to better evaluate some features of the model. Finally, some critical points are discussed together with suggestions for further works.     

Multilateral bargaining and Walrasian equilibrium

A class of bargaining games in which agents bargain over prices and maximum trading constraints is considered: It is proved that all the Stationary Subgame Perfect Equilibria of these games implement Walrasian allocations as the bargaining frictions vanish. The result holds for any number of agents and is robust to different specifications of the bargaining process.     

Barriers to women entrepreneurship. Different methods,different results?

Building on research by Akehurst et al. (Serv Ind J 32:2489–2505, 2012), this study analysed internal and external factors in women entrepreneurship and linked these factors to the barriers that women face when starting businesses. To do so, two contrasting statistical techniques were used: PLS and QCA. After analysing results from each of these techniques, we observed that family duties and difficulties in obtaining financing (both internal and external) were the main factors related to barriers faced by women entrepreneurs.     

Key Sectors,Industrial Clustering and Multivariate Outliers

In this paper a reflection is made on the problems that can arise in key sector analysis and industrial clustering, due to the usual presence of outliers when using multidimensional data related to the sectors in an input–output table. Multidimensional outliers are considered as being not only linked to the low number of clusters usually observed in this kind of study, but probably causing invalid results in most of the works involving multivariate statistical techniques, such as cluster and factor analysis. Actually, by comparing the key sectors of the Spanish economy obtained in Díaz et al. (2006) Díaz, B., Moniche, L. and Morillas, A. 2006. A fuzzy clustering approach to the key sectors of the Spanish economy. Economic Systems Research, 18: 299–318. [Taylor & Francis Online] [Google Scholar] to the ones we get taking into account the problem the outliers pose, one can realize they greatly distort the results. On the other hand, it is shown that identification of outliers can be considered as a good and new procedure to help select the most important sectors in an economy.     

An empirical approach to the organisational determinants of spin-off creation in European universities

Given the importance in recent years of the phenomenon of academic entrepreneurship in European universities, knowledge about determinants and performance of this technology transfer mechanism may have important managerial and policy implications. Applying the resource-based view at universities, we have tested the influence of five bundles of resources and capabilities on spin-off activity rates as well as on the performance of new spin-offs in a sample of seven European universities. These five bundles are: technology transfer policies and strategies; human capital; stock of technology; resources and capabilities of technology transfer offices; and support measures for academic entrepreneurship. Our results show that excellence of human capital and the presence of university-based financial support measures are strongly associated with both spin-off activity and performance. Another interesting finding is related to the availability of university-based non-economic support measures (training, counselling, etc.), which have no influence on spin-off activity but are significantly associated with performance of new spin-offs. We also discuss some interesting relationships between explanatory variables.     

Relevance and advantages of using the item response theory

The item response theory (IRT) also known as latent trait theory, is used for the development, evaluation and administration of standardized measurements; it is widely used in the areas of psychology and education. This theory was developed and expanded for over 50 years and has contributed to the development of measurement scales of latent traits. This paper presents the basic and fundamental concepts of this IRT and a practical example of the construction of scales is proposed to illustrate the feasibility, advantages and validity of IRT through a known measurement, the height. The results obtained with the practical application of IRT confirm its effectiveness in the evaluation of latent traits.     

The heterogeneity of carbon Kuznets curves for advanced countries: comparing homogeneous,heterogeneous and shrinkage/Bayesian estimators

We investigate Carbon Kuznets Curves (CKC) relationships for advanced countries grouped in policy relevant groups – North America and Oceania, South Europe, North Europe – by means of various homogeneous, heterogeneous and shrinkage/Bayesian panel estimators. We try to provide an answer to the question ‘how sensitive are the CKC estimates to changes in the level of parameters' heterogeneity?’. We do find that in coherence with their ‘policy and economic’ commitment to carbon reductions and environmental market-based instruments implementation, bell shapes are present only for northern EU, which leads the group of advanced countries. The other two lag behind. We show for the first time that CKC shapes are present if we net out Europe of the southern and less developed countries. This is coherent with the Kuznets paradigm. The negative side of the tale is that they characterize a bunch of few countries. Other advanced countries lag behind and are far from reaching a CKC dynamics. Heterogeneous and Bayesian estimators clearly show this, with the EU presenting turning points closely around $13?000 per capita Gross Domestic Product (GDP). Heterogeneous panel estimates also show that for lagging countries presumed bell shapes turn into linear relationships. The stability of outcomes across models is stronger when we compare heterogeneous rather than homogeneous models. If it is compared with other studies, our analysis highlights a relative lower variability across specifications.     

Regularity and Pareto improving on financial equilibria with price-dependent borrowing restrictions

We consider a pure exchange, general equilibrium model, with two periods and a finite number of states, commodities, numeraire assets, and households. Participation in the asset markets is restricted in a household specific manner, imposing upper bounds on the amounts of borrowing which can be obtained using assets. Those bounds are assumed to depend on asset and commodity prices. After establishing existence of equilibria, we show that, generically in the set of the economies, equilibria are finite and regular. Then, we restrict our attention to the significant set of economies in which some associated equilibria exhibit a sufficiently high number of strictly binding participation constraints. We prove that, generically in that set, those equilibria are Pareto improvable through a local change of the participation constraints.