Accession Number : ADA625197


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


Descriptive Note : Briefing charts


Corporate Author : AIR FORCE ACADEMY COLORADO SPRINGS CO


Personal Author(s) : Ackerman, Adam ; Mastronardi, Nick ; Thurmond, Travis ; Griffin, Will ; Holler, Ryan ; Manuel, Jimmy ; McVay, Ryan


Full Text : http://www.dtic.mil/get-tr-doc/pdf?AD=ADA625197


Report Date : May 2015


Pagination or Media Count : 23


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?


Descriptors :   *BARGAINING , *BUDGETS , *CONTRACTORS , *JET TRAINING AIRCRAFT , *PROCUREMENT , CONTRACTS , COSTS , DEPARTMENT OF DEFENSE , EFFICIENCY , ENVIRONMENTS , QUALITY , RATINGS , RISK , SELECTION , SHARING


Subject Categories : Training Aircraft
      Economics and Cost Analysis
      Logistics, Military Facilities and Supplies


Distribution Statement : APPROVED FOR PUBLIC RELEASE