Collusion in Multi-Object Auctions: Experimental Evidence
نویسندگان
چکیده
منابع مشابه
Collusion in Procurement Auctions: An Experimental Examination
Experimental methods are used to examine the existence and detectability of collusion in environments that exhibit critical parallels to procurement auctions. We find that, given the opportunity, sellers often raise prices considerably. Moreover, non-collusive Nash equilibrium predictions are insufficient to dismiss “suspicious” behavior as innocuous: In an environment where identical prices ar...
متن کاملA Theory of Collusion in Multiple Object Simultaneous Auctions
The choice of strategies by bidders who are allowed to communicate in auctions is studied. Using the tools of mechanism design, the possible outcomes of communication between bidders participating in a series of simultaneous first-price auctions are investigated. A variety of mechanisms are incentive compatible when side payments are not allowed. When attention is restricted to mechanisms that ...
متن کاملCollusion via Signaling in Multiple Object Auctions with Complementarities: an Experimental Test
We experimentally study bidder collusion in open ascending auctions for multiple objects. The project is based on the theoretical results by Brusco and Lopomo (1999), who give theoretical support for the following claims: (1) simultaneous ascending bid auctions can be vulnerable to collusion in the multi-object case; (2) The sole presence of complementarities does not hinder collusion; (3) Coll...
متن کاملThe Effect of Collusion on Efficiency in Experimental Auctions
This paper examines the effect of collusion on allocative efficiency in a second-price sealed-bid auction, in which bidders’ valuations have private and common value components. We present a theoretical model which shows that explicit collusion improves average efficiency. Furthermore, a reduction in common value signal variance increases the efficiency of allocations when a cartel is present. ...
متن کاملHonor among thieves: collusion in multi-unit auctions
We consider collusion in multi-unit auctions where the allocation and payments are determined using the VCG mechanism. We show how collusion can increase the utility of the colluders, characterize the optimal collusion and show it can easily be computed in polynomial time. We then analyze the colluders’ coalition from a cooperative game theoretic perspective. We show that the collusion game is ...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Eastern European Economics
سال: 2017
ISSN: 0012-8775,1557-9298
DOI: 10.1080/00128775.2017.1394161