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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- Paulo Klinger Monteiro & Flavio Menezes, 2001.
"Corruption and auctions,"
- Roberto Burguet & Martin Perry, 2000.
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- Roberto Burguet & Martin Perry, 2002. "Bribery and Favoritism by Auctioneers in Sealed Bid Auctions," Departmental Working Papers 200205, Rutgers University, Department of Economics.
- Celentani, Marco & Ganuza, Juan-Jose, 2002.
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"Auctions and corruption,"
SFB 373 Discussion Papers
2000,40, Humboldt University of Berlin, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes.
- 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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