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Bid Rigging. An Analysis of Corruption in Auctions
Lengwiler, Yvan; Wolfstetter, Elmar G. - 2005
In many auctions, the auctioneer is an agent of the seller. This invites corruption. We propose a model of corruption … profitable. We characterize equilibrium bidding in first- and second-price auctions, show how corruption distorts the allocation …
Persistent link: https://www.econbiz.de/10010333974
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Ownership and Control in a Competitive Industry
Karle, Heiko; Klein, Tobias J.; Stahl, Konrad O. - 2011
We study a differentiated product market in which an investor initially owns a controlling stake in one of two competing firms and may acquire a non-controlling or a controlling stake in a competitor, either directly using her own assets, or indirectly via the controlled firm. While industry...
Persistent link: https://www.econbiz.de/10010333848