Last December, Bloomberg reported that California water futures are now a tradeable commodity on Wall Street. The idea behind this is that it allows farmers and municipalities to hedge the uncertainty of water prices in the future, as they should be able to budget for the resource more accurately.

How the National Hockey League (NHL) managed to create a level playing field for their teams

Whether you are a football fan or not, you will no doubt have heard about the farce of the Super League in spring – where twelve well-known football clubs from England, Spain and Italy established a new football association, but it collapsed within 48 hours.

When you hear the word "auction", the first thing you might probably think of are names like Sotheby's or Christie's, two auction houses that are particularly well known for selling art. However, there are numerous examples, where revenue maximisation is not the main motive of an auction.

In this second part, we will explain how the dynamics of a next tender process might also have some undesirable outcomes.

French transport company, Keolis, won a public tender in 2019 for the bus transportation rights in the Eastern provinces of the Netherlands. The contract, valued at 900 million Euros, was revoked in the summer of 2020 as reports showed that Keolis had signed fraudulent agreements with their subcontractors. With the contract already due in December, the government had to award Keolis a two-year emergency concession to limit welfare losses. This article will demonstrate, through a game-theoretical analysis, how this tender rewarded fraudulent behaviour at the expense of society, potentially setting a bad precedent. We will also explain how the government should redesign future tender processes, to incentivise ethical behaviour and discourage fraud.