Collusion in Auctions
Despite substantial legal evidence of collusion in auctions, there has been very little theoretical or empirical work on this subject by economists. This survey paper discusses mechanisms that are likely to facilitate collusion in auctions, as well as methods of detecting the presence of these schemes. The principal message of this paper is that the presence and the characteristics of collusive mechanisms depend critically on the nature of the object being auctioned, and on the particular auction rules. Accordingly, empirical work should be tailored to specific cases.
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|Date of creation:||Jan 1989|
|Date of revision:|
|Contact details of provider:|| Postal: Center for Mathematical Studies in Economics and Management Science, Northwestern University, 580 Jacobs Center, 2001 Sheridan Road, Evanston, IL 60208-2014|
Web page: http://www.kellogg.northwestern.edu/research/math/
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- Marc S. Robinson, 1984. "Oil Lease Auctions: Reconciling Economic Theory with Practice," UCLA Economics Working Papers 292, UCLA Department of Economics.
- McAfee, R Preston & McMillan, John, 1992.
American Economic Review,
American Economic Association, vol. 82(3), pages 579-99, June.
- Michael H. Riordan, 1985. "Imperfect Information and Dynamic Conjectural Variations," RAND Journal of Economics, The RAND Corporation, vol. 16(1), pages 41-50, Spring.
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