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Estimating Revenue Under Collusion-Proof Auctions

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  • Gaurab Aryal
  • Maria F. Gabrielli

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Abstract

We propose a method to nonparametriclly estimate the revenue under a auction that is efficient and resilient to collusion [Chen and Micali, 2012]. Efficiency is achieved on account of a lower revenue and we propose a method to quantify this efficiency-revenue trade-off, i.e. the extra cost for which efficient allocation can be guaranteed even when bidders collude. We implement a local polynomial estimation method on sample of California highway procurements data and find that to achieve efficiency the cost of procurement must increase by at lest 10.8% and can go up to 48.8% depending on the size of bidding-ring.

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Bibliographic Info

Paper provided by Australian National University, College of Business and Economics, School of Economics in its series ANU Working Papers in Economics and Econometrics with number 2012-597.

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Length: 28 Pages
Date of creation: Dec 2012
Date of revision:
Handle: RePEc:acb:cbeeco:2012-597

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Cited by:
  1. Florencia M. Gabrielli, 2013. "Detecting Collusion on Highway Procurement," Económica, Departamento de Economía, Facultad de Ciencias Económicas, Universidad Nacional de La Plata, vol. 59, pages 127-165, January-D.

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