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Art Auctions and Bidding Rings: Empirical Evidence from German Auction Data

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  • Michael Beckmann

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Abstract

This article illustrates the determinants of bidder collusion using data from German auctions. Special attention is thereby devoted to the question at whether art and antiques auctions are particularly attractive for bidding rings as the conditions for rings to succeed may be quite favorable at these auctions. Cartel stability at art auctions, for example, may be enforced by the structure of bidders or the expected surplus from collusive arrangements. Actually, the estimations of a binary choice model show that even after controlling for determinants suggested by auction theory, art and antiques auctions turn out to be particularly susceptible to bidder collusion. Copyright Kluwer Academic Publishers 2004

Suggested Citation

  • Michael Beckmann, 2004. "Art Auctions and Bidding Rings: Empirical Evidence from German Auction Data," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 28(2), pages 125-141, May.
  • Handle: RePEc:kap:jculte:v:28:y:2004:i:2:p:125-141
    DOI: 10.1023/B:JCEC.0000019483.38761.63
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    File URL: http://hdl.handle.net/10.1023/B:JCEC.0000019483.38761.63
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    Citations

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    Cited by:

    1. Bernd-O. Heine & Matthias Meyer & Oliver Strangfeld, 2005. "Stylised Facts and the Contribution of Simulation to the Economic Analysis of Budgeting," Journal of Artificial Societies and Social Simulation, Journal of Artificial Societies and Social Simulation, vol. 8(4), pages 1-4.
    2. Jannett Highfill & Kevin O’Brien, 2007. "Bidding and prices for online art auctions: sofa art or investment," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 31(4), pages 279-292, December.

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