On the timing of auctions: the effects of complementarities on bidding, participation, and welfare
Hayri Alper Arslan, Alex Arsenault Arsenault-Morin, Matthew Gentry
TBD
Problem: This paper examines the impact of auction timing on bidder behavior and welfare. Methodology/Results: A structural auction model is developed and applied to real data. Complementarities in bids are found to affect contract combinations. An optimization algorithm for auction schedules is proposed. Managerial Implications: Optimizing auction schedules can reduce procurement costs by over 8%.