A number of papers in the theoretical auction literature show that the release of information regarding the seller …’s valuation of an item can cause bidders to bid more aggressively. This widely accepted result in auction theory remains largely … bids was even larger for projects where the common uncertainty in costs is greater. Moreover, the within-auction standard …

We examine theoretically and experimentally two countervailing effects of collusion and symmetric mergers among bidders … demonstrate that, in average value auctions, this leads to more aggressive bidding. On the other hand, since collusion decreases … the number of active bidders, competition is lessened, reducing the price paid at auction. We demonstrate that the …

asset that is too large or too risky for a single individual or financial institution so that an auction method is not … and a SS is provided. The difference between an auction scheme and a subscription scheme is discussed. …

private and common valuations as special cases. We show that the key determinant of bidders' surplus (and implicitly auction … format of the auction matters. If bidders have constant marginal utilities for objects up to some limit, then uniform price …

We investigate the outcome of an auction where the auctioneer approaches one of the two existing bidders and offers an … arrangements, corruption affects both bidding behavior, efficiency and the seller's expected revenue in a first-price auction. …

It has been argued that collusion among the members of an organization or a vertical structure creates efficiency … losses, and hence should be prevented. This paper shows that whenever collusion takes the form of co-insurance agreements …, collusion yields only a redistribution of surplus among the members of the vertical structure. Hence, its efficiency costs may …

We introduce ex-ante collusion whereby the supervisor stops monitoring for a transfer payment from the agent, in … addition to ex-post collusion following the monitoring outcome. Extending a well-known model of hierarchy, we study the … determinants of ex-ante collusion and show that, depending on the parameter values we identify, the principal can ignore either ex …