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Exponential and power laws in public procurement markets
Open accessAbstract
We analyze for the first time a unique public procurement database, which includes information about a number of bidders for a contract, a final price, an identification of a winner and an identification of a contracting authority for each of more than 40000 public procurements in the Czech Republic between 2006 and 2011, focusing on the distributional properties of the variables of interest. We uncover several scaling laws —the exponential law for the number of bidders, and the power laws for the total revenues and total spendings of the participating companies, which even follows Zipf's law for the 100 most spending institutions. We propose an analogy between extensive and non-extensive systems in physics and the public procurement market situations. Through an entropy maximization, such analogy yields some interesting results and policy implications with respect to the Maxwell-Boltzmann and Pareto distributions in the analyzed quantities.
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“However, few studies have explored adequate methodologies that account for non-linearities in spending dynamics or examined the inference potential in public procurement data [8–10].”
From Scaling Behavior of Public Procurement Activity (2021) · cites this paper as [8]
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“Although previous works have analyzed procurement data [8], they have done so using relatively smaller samples, which limited the investigation of universal governing patterns at any level.”
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Scaling Behavior of Public Procurement Activity
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Metadata
- Authors
- Kristoufek, L., & Skuhrovec, J.
- Affiliations
- Charles University (CZ)
- Venue
- EPL (Europhysics Letters)
- Publisher
- IOP Publishing
- Published
- 2012-07-01
- Volume
- 99
- Issue
- 2
- Pages
- 28005
- ISSN
- 0295-5075 (ISSN-L)
- 1286-4854
- OpenAlex
- W2008866429
- Cited by
- 3
- References
- 26
- Citations by year
- 2021: 1 · 2016: 1 · 2014: 1
- FWCI
- 0.77
- Type
- journal article
- Language
- en
- Open access
- green
- arxiv.org
- Locations
- Europhysics Letters (EPL) (publishedVersion)
- arXiv (Cornell University) (submittedVersion)
- ASEP (submittedVersion, public-domain)
- Funders
- Univerzita Karlova v Praze
- Grantová Agentura České Republiky (GA402/09/0965, GAP402/11/0948)
- Technologická Agentura České Republiky
- Topics
- Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Complex Systems and Time Series Analysis
- Physical Sciences › Physics and Astronomy › Statistical and Nonlinear Physics › Statistical Mechanics and Entropy
- Social Sciences › Business, Management and Accounting › Strategy and Management › Public Procurement and Policy
- Keywords
- public procurement, scaling laws, exponential law, power law, Zipf's law, number of bidders, contracting authorities, firm revenue, Pareto distribution, Maxwell-Boltzmann distribution, entropy maximization, procurement policy, Czech Republic
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