Decision Sciences
8 years ago

Collusion Uncovered: Auctions Rigged for Profit at Society's Expense

Journal of Political Economy
Collusive Bidder Behavior at Single-Object Second-Price and English Auctions
Daniel A. Graham, Robert C. Marshall

Paper Summary

Related papers

Theme background image
Arts and Humanities
2 years ago

Unlocking the Power of Speculation: How Science Thrives on Bold Ideas

Mechanistic Explanation
Epistemic Injustice
Climate Change
Decision Sciences
3 years ago

Construction firms in Japan collude on $40 billion projects, impacting fair competition.

Mechanism Design
Public Procurement
Economic Behavior
1 view
Decision Sciences
4 years ago

Collusion thrives in one-sided auctions, challenging market fairness.

Mechanism Design
Public Procurement
Corruption Causes
1 view

The article explores how bidders can collude in auctions to manipulate prices. The researchers studied both second-price and English auctions to understand how collusion affects outcomes. They found that collusive behavior can lead to higher prices and reduced competition, ultimately impacting the fairness of the auction process.