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Do pay-as-bid auctions favor collusion? : evidence from Germany’s market for reserve power
Heim, Sven; Goetz, Georg - 2013
behavior in an environment with repeated auctions, pivotal suppliers and inelastic demand. The price increase can be traced … back to an abuse of the auction’s pay-as-bid mechanism by the two largest firms. In contrast to theoretical findings, we … show that pay-as-bid auctions do not necessarily reduce incentives for strategic capacity withholding and collusive …
Persistent link: https://www.econbiz.de/10009751726
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Information exchange through non-binding advance price announcements : an antitrust analysis
Boshoff, Willem H.; Frübing, Stefan; Hüschelrath, Kai - 2015
We study the welfare effects of non-binding advance price announcements. Applying a differentiated Bertrand model with horizontal products and asymmetric information, we find that such announcements can help firms to gain information on each other thereby allowing them to achieve higher profits....
Persistent link: https://www.econbiz.de/10011316431
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Legal and illegal cartels in the European cement industry
Fink, Nikolaus; Frübing, Stefan - 2015
Due to being much better documented, legal cartels have recently attracted the interest of many researchers who aim to understand the functioning of illegal cartels in detail. This paper contributes to the question of what we can learn from legal cartels by taking a closer look at the cement...
Persistent link: https://www.econbiz.de/10011334610
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Minority share acquisitions and collusion : evidence from the introduction of national leniency programs
Heim, Sven; Hüschelrath, Kai; Laitenberger, Ulrich; … - 2017
There is a growing concern that minority shareholding (MS) in rival firms may facilitate collusion. To examine this …
Persistent link: https://www.econbiz.de/10011730845
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Strategic capacity withholding through failures in the German-Austrian electricity market
Bergler, Julian; Heim, Sven; Hüschelrath, Kai - 2016
In electricity day-ahead markets organized as uniform price auction, a small reduction in supply in times of high demand can cause substantial increases in price. We use a unique data set of failures of generation capacity in the German-Austrian electricity market to investigate the relationship...
Persistent link: https://www.econbiz.de/10011419368
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Preferences and decision support in competitive bidding
Fugger, Nicolas; Gillen, Philippe; Rasch, Alexander; … - 2017
We examine bidding behavior in first-price sealed-bid and Dutch auctions, which are strategically equivalent under …
Persistent link: https://www.econbiz.de/10011753992
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Endogenous worst-case beliefs in first-price auctions
Gretschko, Vitali; Mass, Helene - 2018
Bidding in first-price auctions crucially depends on the beliefs of the bidders about their competitors' willingness to …
Persistent link: https://www.econbiz.de/10011946017
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A primer on damages of cartel suppliers : determinants, standing US vs. EU and econometric estimation
Bueren, Eckart; Smuda, Florian - 2013 - First version: August 2013, this version: October 2013
While private actions for damages by customers against price-cartels receive much attention, the treatment of other groups affected by such conspiracies is largely unresolved. This article narrows the research gap with respect to suppliers to a downstream price cartel. First, we show that such...
Persistent link: https://www.econbiz.de/10010228570
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The effects of cartel damage compensations
Hunold, Matthias - 2013
Damage compensation claims in case of cartels are supposed to increase deterrence, compensate losses and increase efficiency. I show that such claims can instead have adverse effects: If suppliers or buyers of cartelists are compensated in proportion to the profits lost due to the cartel,...
Persistent link: https://www.econbiz.de/10010194468
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A primer on damages of cartel suppliers : determinants, standing US vs. EU and econometric estimation
Bueren, Eckart; Smuda, Florian - 2013
While private actions for damages by customers against price-cartels receive much attention, the treatment of other groups affected by such conspiracies is largely unresolved. This article narrows the research gap with respect to suppliers to a downstream price cartel. First, we show that such...
Persistent link: https://www.econbiz.de/10009787408