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Endogenous Bid Rotation in Repeated Auctions

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    Abstract

    I study collusion between two bidders in a general symmetric IPV repeated auction, without communication, side transfers, or public randomization. I construct a collusive scheme, endogenous bid rotation, that generates a payoff larger than the bid rotation payoff.

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    File URL: http://hevra.haifa.ac.il/econ/wp_files/wp201109.pdf
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    Bibliographic Info

    Paper provided by University of Haifa, Department of Economics in its series Working Papers with number WP2011/9.

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    Length: 21
    Date of creation:
    Date of revision: 09 Oct 2011
    Handle: RePEc:haf:huedwp:wp201109

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    Related research

    Keywords: Auctions; Bid rotation; Collusion; Repeated games;

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    1. Athey, Susan & Bagwell, Kyle, 2001. "Optimal Collusion with Private Information," RAND Journal of Economics, The RAND Corporation, vol. 32(3), pages 428-65, Autumn.
    2. Blume, Andreas & Heidhues, Paul, 2006. "Private monitoring in auctions," Journal of Economic Theory, Elsevier, vol. 131(1), pages 179-211, November.
    3. Skrzypacz, Andrzej & Hopenhayn, Hugo, 2004. "Tacit collusion in repeated auctions," Journal of Economic Theory, Elsevier, vol. 114(1), pages 153-169, January.
    4. Masaki Aoyagi, 2002. "Efficient Collusion in Repeated Auctions with Communication," ISER Discussion Paper 0566, Institute of Social and Economic Research, Osaka University.
    5. McAfee, R Preston & McMillan, John, 1992. "Bidding Rings," American Economic Review, American Economic Association, vol. 82(3), pages 579-99, June.
      • McAfee, R. Preston & McMillan, John., 1990. "Bidding Rings," Working Papers 726, California Institute of Technology, Division of the Humanities and Social Sciences.
    6. Aoyagi, Masaki, 2003. "Bid rotation and collusion in repeated auctions," Journal of Economic Theory, Elsevier, vol. 112(1), pages 79-105, September.
    7. Owen R. Phillips & Dale J. Menkhaus & Kalyn T. Coatney, 2003. "Collusive Practices in Repeated English Auctions: Experimental Evidence on Bidding Rings," American Economic Review, American Economic Association, vol. 93(3), pages 965-979, June.
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    Cited by:
    1. Rachmilevitch, Shiran, 2013. "Bribing in first-price auctions," Games and Economic Behavior, Elsevier, vol. 77(1), pages 214-228.

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