Number of the records: 1
Exponential and power laws in public procurement markets
- 1.
SYSNO ASEP 0381829 Document Type J - Journal Article R&D Document Type Journal Article Subsidiary J Článek ve WOS Title Exponential and power laws in public procurement markets Author(s) Krištoufek, Ladislav (UTIA-B) RID, ORCID
Skuhrovec, J. (CZ)Number of authors 2 Source Title EPL : Europhysics Letters. - : Institute of Physics Publishing - ISSN 0295-5075
Roč. 99, č. 2 (2012), 28005-1-28005-6Number of pages 6 s. Language eng - English Country FR - France Keywords Public procurement ; Scaling ; Power law Subject RIV AH - Economics R&D Projects GA402/09/0965 GA ČR - Czech Science Foundation (CSF) Institutional support UTIA-B - RVO:67985556 UT WOS 000307811300024 DOI 10.1209/0295-5075/99/28005 Annotation 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. Workplace Institute of Information Theory and Automation Contact Markéta Votavová, votavova@utia.cas.cz, Tel.: 266 052 201. Year of Publishing 2013
Number of the records: 1