We study experimentally whether anti-corruption policies with a focus on bribery might be insufficient to uncover more … between a decision-maker and a lobbying party serves as a legal substitute for corruption. Due to the obvious lack of field …

We study the consequences of leniency - reduced legal sanctions for wrongdoers who spontaneously self-report to law … enforcers - on sequential, bilateral, illegal transactions, such as corruption, manager-auditor collusion, or drug deals. It is …

In many auctions, the auctioneer is an agent of the seller. This invites corruption. We propose a model of corruption … profitable. We characterize equilibriumbidding in first- and second-price auctions, show how corruption distorts the allocation …, and why both the auctioneer and bidders may have a vested interest in maintaining corruption. Bid rigging is initiated by …

In many developing countries, we observe rather high levels of corruption. This is surprising from a political economy … perspective, as the majority of people generally suffers from high corruption levels. We explain why citizens do not exert enough … political pressure to reduce corruption if financial institutions are missing. Our model is based on the fact that corrupt …

We review different kinds of corruption that have been observed in procurement auctions and categorize them. We discuss … means to avoid corruption, by choice of preferable auction formats, or with the help of technological tools, such as secure … proposals, are particularly prone to corruption. We do not believe that it is possible to eradicate corruption altogether in …

types of political risk, like expropriation, corruption and confiscatory taxation, and In our theoretical analysis we find …