Caillaud, Bernard; Jehiel, Philippe - In: RAND Journal of Economics 29 (1998) 4, pp. 680-702
In standard auctions, collusion among buyers eliminates bidding competition despite informational asymmetries. Collusion can, however, be imperfect when the situation involves "externalities" among buyers, that is, when a buyer is worse off if one rival wins the good rather than if nobody gets...
