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Title: Information is essential for competitive and cost-effective public procurement
Authors: Görgün, Mustafa Kaan
Kutlu, Mucahid
Taş, Bedri Kamil Onur
Keywords: Economic analysis
information retrieval
natural language processing
public procurement
Issue Date: 2022
Publisher: Sage Publications Ltd
Abstract: Public authorities promote transparent public procurement practices to increase competition and reduce public procurement costs. In this article, we focus on public procurement of the European Union (EU). We employ a multidisciplinary approach to analyse economic effects of information in public procurement. We quantify the information content of 2,390,630 EU public procurement notices published in 22 different languages using natural language processing techniques. Subsequently, we examine the impact of the information content on public procurement outcomes. We find that higher information levels have significant positive effects. Competition is considerably higher when notices contain more information. On average, contract prices would be 6%-8% lower if notices were to contain adequate information. EU governments could save up to euro 80 billion if all public procurement notices were to have detailed information. Based on our comprehensive analysis, we believe that authorities should regulate the information content of notices to promote competition and cost-effectiveness in public procurement.
Description: Article; Early Access
ISSN: 0165-5515
Appears in Collections:Scopus İndeksli Yayınlar Koleksiyonu / Scopus Indexed Publications Collection
WoS İndeksli Yayınlar Koleksiyonu / WoS Indexed Publications Collection

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