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Going Once, Going Twice, Reported!

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Author Info

  • Jeroen Hinloopen

    (University of Amsterdam)

  • Sander Onderstal

    (University of Amsterdam)

Abstract

We experimentally examine the effectiveness of antitrust policies against bidding rings in theEnglish auction (EN) and the first-price sealed-bid auction (FP). We consider both traditionalantitrust policy (without a leniency program) and modern antitrust policy (with a leniencyprogram). In EN, neither antitrust policy has a significant effect on cartel deterrence, cartelstability, cartel recidivism, and winning bids. In FP, traditional antitrust policy deters cartelformation, destabilizes cartels, reduces the probability that a cartel re-establishes, and reduces theaverage winning bid. In contrast, while a leniency program has no additional effect on cartelformation or cartel recidivism, it makes cartels more stable and reduces the winning cartel bid.

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Bibliographic Info

Paper provided by Tinbergen Institute in its series Tinbergen Institute Discussion Papers with number 09-085/1.

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Date of creation: 09 Oct 2009
Date of revision: 05 Apr 2013
Handle: RePEc:dgr:uvatin:20090085

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Web page: http://www.tinbergen.nl

Related research

Keywords: Antitrust policy; Leniency Programs; English Auction; First-Price Sealed-Bid Auction; Laboratory Experiments;

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