75997 20191113135213.0 doi 10.1007/s00181-017-1365-8 sideral 104259 ART-2017-104259 eng (orcid)0000-0003-3550-6370 González Chapela, Jorge Further econometric evidence on the extent and sources of cost savings in competitively tendered contracts 2017 Access copy available to the general public Unrestricted By estimating a flexible nonlinear regression model of savings on an original dataset of service procurements conducted by the Spanish Armed Forces, this paper provides robust and precise novel econometric evidence on the extent and sources of cost savings in public procurement. The net effect on savings of the policy-amenable and economically advantageous variables that we estimate, such as the size of the procured function, the importance of price in the contract award criteria, and the number of bidders who participate in the tendering, may help contracting agencies to select management practices and to forecast the price paid out. We find that savings increase proportionally to the size of the procured function, that an increase of 10 percentage points in the importance of price increases savings by approximately 2% of the function’s size, and that savings are generally reduced by restricting the number of bidders. A comparison with estimates reported in previous studies is also made. info:eu-repo/grantAgreement/ES/UZ/CUD2015-06 info:eu-repo/semantics/openAccess All rights reserved http://www.europeana.eu/rights/rr-f/ 0.974 2017 SOCIAL SCIENCES, MATHEMATICAL METHODS 31 / 49 = 0.633 2017 Q3 T2 ECONOMICS 207 / 353 = 0.586 2017 Q3 T2 0.532 2017 Economics and Econometrics 2017 Q2 Mathematics (miscellaneous) 2017 Q2 Social Sciences (miscellaneous) 2017 Q2 Statistics and Probability 2017 Q3 info:eu-repo/semantics/article info:eu-repo/semantics/acceptedVersion Labeaga, José M. (orcid)0000-0002-5181-929X Medrano, Luis A. 56, 2 (2017), 679-701 Empir. econ. Empirical Economics 0377-7332 235390 http://zaguan.unizar.es/record/75997/files/texto_completo.pdf Postprint 80279 http://zaguan.unizar.es/record/75997/files/texto_completo.jpg?subformat=icon icon Postprint oai:zaguan.unizar.es:75997 articulos driver 2019-11-13-13:45:37 ARTICLE