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in a second - price auction with two bidders in a dy- namic environment. One bidder can make a take-it-or-leave-it collusion pro- posal, which consists of both an offer and a request of bribes , to the opponent ...
. Modify the (k + 1)st- price sealed-bid auction by introducing a small participation fee and the option not to participate in it. This simple mechanism implements the desired outcome in iteratively ...
This paper investigates links between corruption and collusion in procurement. A first‐ price multiple‐object auction is administered by an agent who has legal discretion to allow for a readjustment ...
, 255 – 83 . Google Scholar Crossref Search ADS WorldCat Eső P. , Schummer J. ( 2004 ) Bribing and signaling in second price auctions , Games and Economic Behavior , 47 , 299 – 324 . Google Scholar ...
catalogue covers, a practice for which he was nicknamed ‘cover boy’ (I124; cf. Geismar, 2001). Second , not just the auction house itself, but also the prices that it generates in a relatively transparent ...
, bw. For the derivation of a bidding equilibrium in the Rosca button auction , it will be useful to consider a second price , sealed bid (SPS)‐Rosca auction . In such an auction , each bidder submits a bid ...
of water bottles at an isolated sightseeing point on a very hot day, four methods applicable to make second ‐order determinations are discussed: Pricing , First‐Come‐First‐Served, Lottery, and Administrative ...
spot markets for food donations (cleared via first- price , sealed-bid auctions ), using a scrip currency called ‘shares’ (Prendergast, 2017).17 The presence of ‘clearing prices ’—even if denominated ...
procurement auctions . Successful cartels depend on the ability of members to overcome two challenges: (1) coordinating an agreement amongst themselves (selecting and coordinating profitable collusive pricing ...
to the same entrepreneur at the same (expected) price under the two arrangements. This is because corrupt officials effectively perform a covert auction and allocate the licenses to the entrepreneurs who offer ...
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