Invisible Hand Knowledge-based Factors Affecting Procurement Compliance

This assignment has two parts:

Adam Smith’s “Invisible Hand” theory states that if each consumer is allowed to choose freely what to buy and each producer is allowed to choose freely what to sell and how to produce it, the market will settle on a product distribution and prices that are beneficial to all the individual members of a community, and hence to the community as a whole.

  1. “Invisible hand” in the instant case is being used a metaphor for government control. So you believe that FAR 15 is too onerous?
  2. Are costs associate with complying with FAR 15 having a deleterious impact on small business?

Additional References

Hawkins, T. G., & Muir, W. A. (2014). An exploration of knowledge-based factors affecting procurement compliance. Journal of Public Procurement, 14(1), 1-32.

From Library Database: ABI Inform Collection


Hoppe, E. I., & Schmitz, P. W. (2013). Public-private partnerships versus traditional procurement: Innovation incentives and information gathering. RAND Journal of Economics (Wiley-Blackwell), 44(1), 56-74. doi:10.1111/1756-2171.12010

From Library Database: Business Source Complete


Martínez-de-Albéniz, V., & Simchi-Levi, D. (2013). Supplier-Buyer Negotiation Games: Equilibrium Conditions and Supply Chain Efficiency. Production & Operations Management, 22(2), 397-409. doi:10.1111/j.1937-5956.2012.01374.x

From Library Database: Business Source Complete


Maser, S. M., & Thompson, F. (2013). Dispelling fear and loathing in government acquisition: A proposal for cultivational governance in DOD source selections. Journal of Public Procurement, 13(3), 289-314

From Library Database: ABI Inform Collection