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Collusion Without Conspiracy: An Experimental Study of One-Sided Auctions

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Author Info
Katerina Sherstyuk ()

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Abstract

The study investigates collusion-nonfacilitating features of one-sided auctions. We report the results of oral nondescending bid auction experiments in which the strict bid improvement rule was absent, and compare them with the results of sealed bid auction experiments. In the sealed bid experiments the outcomes converged to the competitive equilibrium. In the oral auctions, collusive outcomes emerged and were sustained with bidders using bid matching strategies. We conclude that oral auctions provide opportunities for tacit coordination and collusion enforcement that do not exist under the sealed bid. Therefore, the strict bid improvement rule becomes critical for breaking collusion. Copyright Kluwer Academic Publishers 1999

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File URL: http://hdl.handle.net/10.1023/A:1009929832148
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Publisher Info
Article provided by Springer in its journal Experimental Economics.

Volume (Year): 2 (1999)
Issue (Month): 1 (August)
Pages: 59-75
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Handle: RePEc:kap:expeco:v:2:y:1999:i:1:p:59-75

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Web page: http://www.springerlink.com/link.asp?id=102888

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Keywords: auction experiments; tacit collusion;

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Graham, Daniel A & Marshall, Robert C & Richard, Jean-Francois, 1990. "Differential Payments within a Bidder Coalition and the Shapley Value," American Economic Review, American Economic Association, vol. 80(3), pages 493-510, June. [Downloadable!] (restricted)
  2. Grether, David M & Plott, Charles R, 1984. "The Effects of Market Practices in Oligopolistic Markets: An Experimental Examination of the Ethyl Case," Economic Inquiry, Oxford University Press, vol. 22(4), pages 479-507, October.
  3. Isaac, R. Mark & Ramey, Valerie & Williams, Arlington W., 1984. "The effects of market organization on conspiracies in restraint of trade," Journal of Economic Behavior & Organization, Elsevier, vol. 5(2), pages 191-222, June. [Downloadable!] (restricted)
  4. Isaac, R. Mark & Walker, James M., 1985. "Information and conspiracy in sealed bid auctions," Journal of Economic Behavior & Organization, Elsevier, vol. 6(2), pages 139-159, June. [Downloadable!] (restricted)
  5. Charles A. Holt & David T. Scheffman, 1987. "Facilitating Practices: The Effects of Advance Notice and Best-Price Policies," RAND Journal of Economics, The RAND Corporation, vol. 18(2), pages 187-197, Summer. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Katerina Sherstyuk, 2002. "Some Results on Anti-Competitive Behavior in Multi-Unit Ascending Price Auctions," Working Papers 200207, University of Hawaii at Manoa, Department of Economics. [Downloadable!]
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  2. Anthony M. Kwasnica & Katerina Sherstyuk, 2001. "Collusion via Signaling in Multiple Object Auctions with Complementarities- An Experimental Test," Working Papers 200102, University of Hawaii at Manoa, Department of Economics. [Downloadable!]
  3. Li, Jin & Plott, Charles R., 2005. "Tacit collusion in auctions and conditions for its facilitation and prevention: Equilibrium selection in laboratory experimental markets," Working Papers 1223, California Institute of Technology, Division of the Humanities and Social Sciences. [Downloadable!]
  4. Sherstyuk Katerina, 1999. "Collision in Private Value Ascending Price Auctions," Working Papers 1063, California Institute of Technology, Division of the Humanities and Social Sciences. [Downloadable!]
    Other versions:
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