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Bidding Rings in Repeated Auctions

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Author Info

  • Skrzypacz, A.
  • Hopenhayn, H.

Abstract

This paper considers the question of tacit collusion in repeated auctions with independent private values. McAfee and McMillan show that the extent of collusion is limited by the availability of transfers. If no transfers are possible, the private information of bidders precludes any collusive scheme beyond bid rotation (BRS), even when the cartel has unlimited enforcement.

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File URL: http://rcer.econ.rochester.edu/RCERPAPERS/rcer_463.pdf
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Bibliographic Info

Paper provided by University of Rochester - Center for Economic Research (RCER) in its series RCER Working Papers with number 463.

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Length: 30 pages
Date of creation: 1999
Date of revision:
Handle: RePEc:roc:rocher:463

Contact details of provider:
Postal: University of Rochester, Center for Economic Research, Department of Economics, Harkness 231 Rochester, New York 14627 U.S.A.

Related research

Keywords: AUCTIONS ; UNCERTAINTY ; BIDDING;

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Cited by:
  1. Sandro Brusco & Giuseppe Lopomo, 2002. "Collusion via Signalling in Simultaneous Ascending Bid Auctions with Heterogeneous Objects, with and without Complementarities," Review of Economic Studies, Oxford University Press, vol. 69(2), pages 407-436.
  2. Ricardo Gonçalves, 2004. "Favouritism and cartel disruption in first-price auctions," Working Papers de Economia (Economics Working Papers) 15, Departamento de Economia, Gestão e Engenharia Industrial, Universidade de Aveiro.
  3. A Banerji & J.V. Meenakshi, 2010. "Competition and Collusion in Grain Markets: Basmati Auctions in North India," Working Papers id:2701, eSocialSciences.

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