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A bidding ring is a collection of bidders who collude in an auction in order to gain greater surplus by depressing competition. This entry describes some typical bidding rings and provides an introduction to the related theoretical and empirical literature.
Persistent link: https://www.econbiz.de/10009395646
This paper proposes a procedure to detect collusion in asymmetric first-price procurement. The main objective is … twofold. First, to provide a methodology to detect collusion using a structural approach, and second to apply the methodology … to field data on procurement auctions for highway construction in California. I identify two different sets of firms as …
Persistent link: https://www.econbiz.de/10010742043
This paper examines how variation in mood influences subjective risk and hence auction prices for art in London during the period 1990–2007. The private value of an object is closely related to taste and mood which is proxied for by the variation in weather. Using a unique data set that...
Persistent link: https://www.econbiz.de/10010576962
critical discount factor required to sustain collusion. This result is shown to hold for Cournot oligopoly as well as for … Bertrand oligopoly when collusion is sustained with Nash-reversion strategies or optimal-punishment strategies. In a Cournot …
Persistent link: https://www.econbiz.de/10010903792
collusion. We introduce cartel culture that describes how likely cartels persist after each conviction. Our analysis …
Persistent link: https://www.econbiz.de/10011256040
We examine the effect of one of the presumably most powerful cartels ever on the profitability of its members. More precisely, we consider the Rhenish-Westphalian Coal Syndicate, a coal cartel that operated in Imperial Germany in the late 19th and early 20th century, using a newly constructed...
Persistent link: https://www.econbiz.de/10005248526
This paper proposes a method of bid-rigging detection, which allows us to reveal cartels in procurement auctions … ‘rotating bidding’ scheme of collusion. The suggested methodology can be potentially used by both researchers and anti …
Persistent link: https://www.econbiz.de/10010752715
collusion. We introduce cartel culture that describes how likely cartels persist after each conviction. Our analysis …
Persistent link: https://www.econbiz.de/10008531430
For a general class of oligopoly models with price competition, we analyze the impact of ex-ante leniency programs in antitrust regulation on the endogenous maximal-sustainable cartel price. This impact depends upon industry characteristics including its cartel culture. Our analysis disentangles...
Persistent link: https://www.econbiz.de/10005137188
France Telecom (FT), SFR and Bouygues Telecom (BT) have been fined by France’s Conseil de la Concurrence (CC) for organizing a mobile phone cartel with stable market shares (one-half, one-third and one-sixth respectively) and for directly exchanging commercial information. While not contesting...
Persistent link: https://www.econbiz.de/10005579080