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Collusion among bidders is a recurring problem in both public and private procurements. This is evident from recent U.S. enforcement actions and those of other jurisdictions across the globe targeting bid-rigging cartels and resulting in substantial fines, civil damages, and terms of...
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We describe the economics literature on auction markets, with an emphasis on the connection between theory, empirical … and estimation issues, with an emphasis on the connection between theory and empirical practice. We also discuss both …
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