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Competition in Bidding Markets

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    Abstract

    The OECD Competition Committee debated competition in bidding markets in October 2006. Competition authorities become interested in auctions by a number of routes. In competition advocacy, they may advise other parts of government on how to design auctions in order to improve their efficiency—the degree of competition. They may evaluate mergers and agreements between firms that operate in auction markets. And they may be concerned with collusion and abuse of a dominant position in auctions. Because their formal rules reduce “noise” and make communication among rivals easier, auctions can promote collusion, compared with ordinary “posted-price” markets. But an auction can be designed to reduce collusion or concerted practices or to promote participation. Thus, the design of an auction can be the object of lobbying pressure. Auctioneers can also behave strategically, choosing auction formats or practices that favour competition. Two fundamental prescriptions for effective auction design follow from the theoretical literature: Induce bidders to truthfully reveal their valuations by making what they pay not depend entirely on what they bid, and maximize the information available to each participant before he bids.

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    File URL: http://dx.doi.org/10.1787/clp-10-5kmhbhp8sgs6
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    Bibliographic Info

    Article provided by OECD Publishing in its journal OECD Journal: Competition Law and Policy.

    Volume (Year): 10 (2008)
    Issue (Month): 1 ()
    Pages: 69-151

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    Handle: RePEc:oec:dafkaa:5kmhbhp8sgs6

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    Cited by:
    1. Elena VESELINOVA & Marija GOGOVA SAMONIKOV, 2013. "How the Textile Companies in South-East Europe Create Value: The Case of the Republic of Macedonia," Management Dynamics in the Knowledge Economy Journal, College of Management, National University of Political Studies and Public Administration, vol. 1(2), pages 327-342, August.
    2. Lang, Gunnar & Schäfer, Henry, 2013. "What is the wind behind the sails to go abroad? Empirical evidence from the mutual fund industry," ZEW Discussion Papers 13-022, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
    3. Vasile DEAC & Mihai VRÎNCUÞ, 2013. "Price Management Paradoxes In The Romanian Economic Crisis," Proceedings of the INTERNATIONAL MANAGEMENT CONFERENCE, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 7(1), pages 48-55, November.
    4. Vasile Deac, 2012. "Strategic Management In A Crisis Context," Proceedings of the INTERNATIONAL MANAGEMENT CONFERENCE, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 6(1), pages 102-109, November.
    5. Robert Goedegebuure & Kennedy Ssejjemba & André de Waal, 2013. "Key determinants of effective partnerships: The case of partnerships between lead firms and farmers in pineapple value chains in Uganda and Kenya," Working Papers 2013/27, Maastricht School of Management.
    6. Christoph Höglinger & Tanja Sinozic & Franz Tödtling, 2012. "Emergence, growth and transformation in local clusters - Environmental industries in the region of Upper Austria," SRE-Disc sre-disc-2012_07, Institute for the Environment and Regional Development, Department of Socioeconomics, Vienna University of Economics and Business.
    7. Clements, Paul & McGregor, John, 2012. "Better, faster, cheaper: Pick any three," Business Horizons, Elsevier, vol. 55(2), pages 201-208.
    8. Vasile DEAC & Florin Alexandru DUNÃ, 2012. "Diagnosis Of The Internal Strategic Context Of The Company Strategic Analysis," Business Excellence and Management, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 2(2), pages 25-34, June.

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