lower credit risk than conventional banks. In terms of insolvency risk, small Islamic banks also appear more stable …

modelled as a multiple criteria auction, and an auctioneer (a government employee) who has discretion in devising the selection … auction into a symmetric information auction (in bribes) for a common value prize. In a repeated setting we show that …

This paper investigates links between corruption and collusion in procurement. A first-price multiple-object auction is … with corruption, collusion is more likely in auctions where firms are small relative to the market. Our main message to … auction designers, competition authorities and criminal courts is that risks of collusion and of corruption must be addressed …

We consider a second price auction between bidders with independently and identically distributed valuations, where a … grand coalition is a known result. Finally, we study collusion in auctions as a mechanism design problem, insisting on the …

-price auction. We find people bid more sincerely in the auction with earned wealth given monetary incentives; earned wealth did not … induce sincere bidding in hypothetical auctions. …

Do French Students really bid sincerely in real and hypothetical incentive compatible auctions? Recent evidence … behavior in classic Vickrey auction for real and hypothetical values in the two largest cities (Paris and Lyon). Two striking …

We consider an auction setting, in a symmetric information framework, in which bidders, even if they fail to obtain the … good, care about the price paid by the winner. We prove that the outcome of the first- price auction is not aff ected by … identity independent price externalities while the outcome of the second-price auction is. In contrast, identity dependent …

scarce transmission capacity at cross-border level: (i) the "implicit auction", already used in some countries, and (ii) the … "coordinated explicit auction", proposed by the European Transmission System Operators (ETSO) but not implemented yet. The main … advantage of the explicit auction is that it allows each country to keep its own power exchange running. In the European …

-price auction to elicit preferences. Comparing the demand curve we elicit in both, hypothetical bias unambiguously (i) vanishes in …

The relative efficiency of auctions and negotiations is still a puzzle in the literature. While auctions are the … empirical studies (Estache et al. 2009, Bajari et al. 2009) highlight some failures of auction procedures and identify … conditions under which negotiation is more efficient. In particular, they show that auctions perform poorly when projects are …