NERA’s auctions and market design team provides advice in three primary areas.
Market Design
We create new market processes, such as auctions and trading systems, to replace administrative procedures, improve negotiation practices, and address specific regulatory and competition objectives. Our solutions can greatly improve market efficiency, cut transaction costs for buyers and sellers, and encourage competition by reducing barriers to entry. NERA’s toolset can be applied to any sector in which there are unrealized gains from trade or competition is not fully effective.
Auction Design and Implementation
We advise on all aspects of the design and implementation process for auctions, RFPs, negotiations, and trading platforms. Our work often begins with industry/market analysis, advice on the packaging of products being sold or procured, and price benchmarking. We advise on the choice of auction format (or other platform), develop bidder qualification standards, and draft bidding rules and procedures, including competitive safeguards. We draft RFPs, consultation documents, and information memorandums and engage in contract development, negotiations, and promotional activities. We also provide best-in-class online bidding software to run auctions, including the use of optimization algorithms where applicable. NERA has a long track record of success in meeting and surpassing client objectives and targets, achieving regulatory and stakeholder approval, and driving competition in the marketplace.
Market Design
Auction Strategy
Auction Design and Implementation
Auction Strategy
Auction Strategy
We advise bidders through all phases of an auction or negotiation process, from consultation on bidding rules to real-time strategy advice during a live auction. We offer a tried-and-tested bid strategy process that we adapt to the unique circumstances of every award to ensure our clients get the best possible outcome for their budget. Our support model typically involves running interactive workshops, running “war games” using mock auctions, advising on governance processes and auction logistics, and drafting a playbook for senior management signoff. We also offer software solutions for training bid teams, tracking complex auctions, and identifying optimal bid levels for first price sealed bids.
Market Design
Auction Design and Implementation
Auction Design and Implementation
Auction Strategy
Market Design
Auction Strategy
Market Design
Auction Design and Implementation