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2015•Oxford University Press eBooksRequires access

Auctions and Bid Rigging

R. Preston McAfee, Michael Allen Williams, Kenneth Hendricks

Open publisher page 8 citations

Abstract

Abstract This chapter surveys the theoretical and empirical literature on bid rigging in auctions. In particular, it reviews the theory and practice of bidding rings in one-shot auctions and in repeated auctions. The main theme is how the type of auction, whether it is first-price or second-price, sealed bid or oral, affects the incentive of bidders to collude and the way in which they collude.

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What this paper is about

Abstract This chapter surveys the theoretical and empirical literature on bid rigging in auctions. In particular, it reviews the theory and practice of bidding rings in one-shot auctions and in repeated auctions. The main theme is how the type of auction, whether it is first-price or second-price, sealed bid or oral, affects the incentive of bidders to collude and the way in which they collude.

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OpenAlex reports 8 citations for this work. Citation counts describe recorded attention and do not establish research quality.

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Available abstract

Abstract This chapter surveys the theoretical and empirical literature on bid rigging in auctions. In particular, it reviews the theory and practice of bidding rings in one-shot auctions and in repeated auctions. The main theme is how the type of auction, whether it is first-price or second-price, sealed bid or oral, affects the incentive of bidders to collude and the way in which they collude.

Key concepts: Common value auction, Bidding, Unique bid auction, Bid shading, Proxy bid, Microeconomics, Incentive, Theme (computing)

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