Collusion via Signalling in Open Ascending Auctions with Multiple Objects and Complementarities
Collusive equilibria exist in open ascending auctions with multiple objects, if the number of bidders is sufficiently small relative to the number of objects, even with large complementarities in the buyers' utility functions. The bidders collude by dividing the objects among themselves, while keeping the prices low. Hence the complementarities are not realized.
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|Date of creation:||1999|
|Date of revision:|
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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Giuseppe Lopomo, 2004.
"The English Auction Is Optimal Among Simple Sequential Auctions,"
122247000000000369, UCLA Department of Economics.
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Policy Research Working Paper Series
1986, The World Bank.
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- Graham, Daniel A & Marshall, Robert C, 1987. "Collusive Bidder Behavior at Single-Object Second-Price and English Auctions," Journal of Political Economy, University of Chicago Press, vol. 95(6), pages 1217-39, December.
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