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The theoretical literature on collusion in auctions suggests that the first-price mechanism can deter the formation of … collusion in first-price and second-price auctions. Furthermore, failed collusion attempts distort the bidding behavior in the … neglects the effects of failed collusion attempts. In such contingencies, information revealed in the negotiation process is …
Persistent link: https://www.econbiz.de/10010472820
We study the use of financial contracts as bid-coordinating device in multi-unit uniform price auctions. Coordination …
Persistent link: https://www.econbiz.de/10012132321
Persistent link: https://www.econbiz.de/10013412429
We study entry and bidding patterns in sealed bid and open auctions with heterogeneous bidders. Using data from U ….S. Forest Service timber auctions, we document a set of systematic effects of auction format: sealed bid auctions attract more … extends the theory of private value auctions with heterogeneous bidders to capture participation decisions, that can account …
Persistent link: https://www.econbiz.de/10011607074
This paper studies multi-attribute auctions in which a buyer seeks to procure a complex good and evaluate offers using … kinds of results. First, we characterize the set of equilibria in quasi-linear scoring auctions with multi-dimensional types …. In particular, we show that there exists a mapping between the class of equilibria in these scoring auctions and those in …
Persistent link: https://www.econbiz.de/10011607201
Short-term auctions for access to entry terminals of the British gas-network appear to successfully allocate scarce … resources and capture scarcity rent. Now long-term auctions are being introduced to guide future capacity expansion decisions …-term auctions for transmission capacity are not necessarily preferable to regulatory approved capacity expansion. …
Persistent link: https://www.econbiz.de/10011591157
We compare auctioning and grandfathering as allocation mechanisms of emission permits when there is a secondary market with market power and the firms have private information. Based on real-life cases such as the EU ETS, we consider a multi-unit, multi-bid uniform auction, modelled as a...
Persistent link: https://www.econbiz.de/10010226080
Internet auctions, such as those on eBay, are known for multiple bidding and sniping. Buyers send bids in the closing … both sniping and multiple bidding. By submitting multiple bids, buyers co-ordinate between auctions, so that all objects …
Persistent link: https://www.econbiz.de/10011599306
of application in separate markets in which a conspirator in the investigated market also engaged in collusion. The …
Persistent link: https://www.econbiz.de/10011435719
In this paper, we tackle the dilemma of pruning versus proliferation in a vertically differentiated oligopoly under the assumption that some firms collude and control both the range of variants for sale and their corresponding prices, likewise a multiproduct firm. We analyse whether pruning...
Persistent link: https://www.econbiz.de/10011451580