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La Chaire EPPP » 28 janvier 2011 Malin ARVE : “Procurement and debt”

 Malin ARVE (Toulouse School of Economics)

“Procurement and debt”

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Malin Arve (TSE and EHESS, GREMAQ)

Lieu: IAE Paris
Date: Vendredi, 28 Janvier, 2011 – 11:0012:30

 Abstract: This paper studies dynamic procurement design and the effect of bankruptcy on this design. Firms differ in their ability to self-finance their presence in the market. The author studies the optimal financial contract for the firm in need of funding and the optimal procurement contract in a setting with both a self-financed and a cash-constrained firm. This paper identifies two reasons, the sampling and duality effect, for favoring the financially weak firm and and one reason, the predatory effect, for not doing so.

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