Game theory econometric models: application to procurements in the space industry

This paper presents a structural econometric analysis of procurements in the space industry. We analyse bidimensional tenders in price and quality. The econometric specification assumes that bidders use Nash equilibrium strategies. These strategies are derived analytically or computed by Monte Carlo...

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Bibliographic Details
Published in:European economic review 1997-04, Vol.41 (3), p.951-959
Main Authors: Florens, Jean-Pierre, Hugo, Marie-Anne, Richard, Jean-François
Format: Article
Language:English
Subjects:
Aerospace industry
Bidimensional bidding
Bids
Commercial space ventures
Econometric models
Econometrics
Economic models
Game theory
Monte Carlo simulation
Nash equilibrium
Purchasing
Structural econometrics-space industries
Studies
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Summary:This paper presents a structural econometric analysis of procurements in the space industry. We analyse bidimensional tenders in price and quality. The econometric specification assumes that bidders use Nash equilibrium strategies. These strategies are derived analytically or computed by Monte Carlo procedures.
ISSN:0014-2921
1873-572X
DOI:10.1016/S0014-2921(97)00053-6