theory of auctions shows that it is unlikely that successful buyers as a group were injured. …

: subjects use costly fines as (altruistic) punishments. Leniency further increases deterrence, but stabilizes surviving cartels …. With rewards, cartels are reported systematically and prices finally fall. If a ringleader is excluded from leniency …

We experimentally examine the effectiveness of a leniency program against bidding rings in two commonly used auctions … makes cartels that do form more stable: subjects use the possibility to report the cartel as an additional stick to control …

auctions, much of it in response to empirical findings, and we review three key findings. First, the evidence suggests that art …

We analyse the welfare consequences of an increase in the commissions charged by intermediaries in auction markets. We … argue that while commissions are similar to taxes imposed on buyers and sellers the question of incidence deserves a new … treatment in auction markets. We show that an increase in commissions makes sellers worse off, but buyers may strictly gain. The …

This paper studies `knockout' auctions, typically organized by bidding rings, in which the winning bidder makes side …

-stage cartel formation experiment where multiple ringleaders may emerge. Although theory predicts that cartels will always be …