Practical Application of Principle-Agent and Auction Theory: A Contracting Guide

Abstract

Overview: Overview of Environment. Potential Improvements: risk sharing (contract type selection), second price sealed bid, second score sealed bid. USAF T-X Program, Contractor Reputation Rating and Summary. Statement of the Problem. The DOD holds an inferior position when bargaining with the private sector (known budget). This creates inefficiencies in procurement leading to excess spending for the quality of product supplied. Research Questions. What mechanisms should the DOD employ to incentivize truth telling and efficiency in performance?

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Document Details

Document Type
Technical Report
Publication Date
May 01, 2015
Accession Number
ADA625197

Entities

People

  • Adam Ackerman
  • Jimmy Manuel
  • Nick Mastronardi
  • Ryan Holler
  • Ryan Mcvay
  • Travis Thurmond
  • Will Griffin

Organizations

  • United States Air Force Academy

Tags

Communities of Interest

  • Air Platforms

DTIC Thesaurus Topics

  • Abstracts
  • Acquisition
  • Air Force
  • Case Studies
  • Contractors
  • Contracts
  • Efficiency
  • Governments
  • Incentive Contracts
  • Information Operations
  • Literature
  • Motivation
  • Procurement
  • Ratings
  • Training
  • United States Air Force Academy

Readers

  • Defense Acquisition Program Management
  • Government Contracting/Procurement.