Interim bribery in auctions
Bidders can bribe the auctioneer before they bid, with the auctioneer lowering the winner's bid if the winner paid the bribe. In equilibrium bidders employ a cutoff strategy and corruption affects neither efficiency nor the bidders' expected payoffs.
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References listed on IDEAS
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- Menezes, Flavio M. & Monteiro, Paulo Klinger, 2006.
"Corruption and auctions,"
Journal of Mathematical Economics,
Elsevier, vol. 42(1), pages 97-108, February.
- Roberto Burguet & Martin Perry, 2002.
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Departmental Working Papers
200205, Rutgers University, Department of Economics.
- Burguet Roberto & Perry Martin K, 2007. "Bribery and Favoritism by Auctioneers in Sealed-Bid Auctions," The B.E. Journal of Theoretical Economics, De Gruyter, vol. 7(1), pages 1-27, June.
- Roberto Burguet & Martin Perry, 2000. "Bribery and Favoritism by Auctioneers in Sealed Bid Auctions," Econometric Society World Congress 2000 Contributed Papers 1827, Econometric Society.
- Celentani, Marco & Ganuza, Juan-Jose, 2002.
"Corruption and competition in procurement,"
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Elsevier, vol. 46(7), pages 1273-1303, July.
- Yvan Lengwiler & Elmar G. Wolfstetter, 2000.
"Auctions and Corruption,"
CESifo Working Paper Series
401, CESifo Group Munich.
- Roberto Burguet & Yeon-Koo Che, 2004. "Competitive Procurement with Corruption," RAND Journal of Economics, The RAND Corporation, vol. 35(1), pages 50-68, Spring.
- Paul Milgrom & Ilya Segal, 2002. "Envelope Theorems for Arbitrary Choice Sets," Econometrica, Econometric Society, vol. 70(2), pages 583-601, March.
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