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Interim bribery in auctions

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Author Info
Koc, Sevket Alper
Neilson, William S.

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Abstract

Bidders can bribe the auctioneer before they bid, with the auctioneer lowering the winner's bid if the winner paid the bribe. In equilibrium bidders employ a cutoff strategy and corruption affects neither efficiency nor the bidders' expected payoffs.

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File URL: http://www.sciencedirect.com/science/article/B6V84-4P40KGD-1/1/f64d3290d474db629d10fb3fe37e429d
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Publisher Info
Article provided by Elsevier in its journal Economics Letters.

Volume (Year): 99 (2008)
Issue (Month): 2 (May)
Pages: 238-241
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Handle: RePEc:eee:ecolet:v:99:y:2008:i:2:p:238-241

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Web page: http://www.elsevier.com/locate/ecolet

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This page was last updated on 2009-12-12.

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