This paper studies `knockout' auctions, typically organized by bidding rings, in which the winning bidder makes side … unbiased estimates of the item's price in the absence of collusion. This paper evaluates the extent of this overestimate in the …

Collusion is a serious problem in many procurement auctions. In this research, I study a model of first price sealed … bid procurement auctions with asymmetric bidders. I demonstrate that the equilibrium to the model is unique and describe …

Most of the literature on collusive behavior in auctions ignores two important issues that make collusion difficult to … auctions where one bidder offers another bidder a side payment in exchange for not participating in the auction, while the … number of other bidders is stochastic. In spite of the barriers to collusion mentioned above, a simple side payment mechanism …

This paper studies sequential auctions of licences to participate in a symmetric market game. Assuming that the rate at …

We examine how irreversible capital reduces the possibility of a duopoly to sustain implicit collusion by grim … are two countervailing effects: Deviation from an existing collusion is less attractive, because capital once installed …. If capital is irreversible, collusion breaks down for realistic magnitudes of interest rates. Copyright Springer …

We consider two ascending auctions for multiple objects, namely, an English and a Japanese auction, and derive a … consists of a finite sequence of sealed-bid auctions. Thus an equilibrium of a continuous time game is derived by means of …