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Collusion via Signalling in Simultaneous Ascending Bid Auctions with Heterogeneous Objects, with and without Complementarities

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  • Sandro Brusco
  • Giuseppe Lopomo

Abstract

Collusive equilibria exist in simultaneous ascending bid auctions with multiple objects, even with large complementarities in the buyers' utility functions. The bidders collude by dividing the objects among themselves, while keeping the prices low. In the most collusive equilibrium the complementarities are never realized. The scope for collusion however narrows as the ratio between the number of bidders and the number of objects increases. Copyright 2002 by The Review of Economic Studies Limited

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Paper provided by UCLA Department of Economics in its series Levine's Bibliography with number 122247000000000385.

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Date of creation: 01 Sep 2004
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Handle: RePEc:cla:levrem:122247000000000385

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  1. Peter Cramton & Jesse Schwartz, 2000. "Collusive Bidding: Lessons from the FCC Spectrum Auctions," Papers of Peter Cramton 00jre, University of Maryland, Department of Economics - Peter Cramton, revised 09 Mar 1999.
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  8. Milgrom, Paul, 1998. "Putting auction theory to work : the simultaneous ascending auction," Policy Research Working Paper Series 1986, The World Bank.
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  11. Steven Tucker & Charles Noussair & Anthony M. Kwasnica & Katerina Sherstyuk, 2013. "Multiunit Auctions," Journal of Economic Surveys, Wiley Blackwell, vol. 27(3), pages 461-490, 07.
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  21. repec:wop:humbsf:2000-72 is not listed on IDEAS
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