Collusive Bidder Behavior At A Single Object English Auction

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Detecting Collusion in Timber Auctions

Author :
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 58 pages
Book Rating : 4./5 ( download)

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Book Synopsis Detecting Collusion in Timber Auctions by :

Download or read book Detecting Collusion in Timber Auctions written by and published by World Bank Publications. This book was released on 2006 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: Romania was one of the first transition countries in Europe to introduce auctions for allocating standing timber (stumpage) in public forests. In comparison with the former system in the country-administrative allocation at set prices-timber auctions offer several potential advantages: greater revenue generation for the government, a higher probability that tracts will be allocated to the firms that value them most highly, and stronger incentives for technological change within industry and efficiency gains in the public sector. Competition is the key to realizing these advantages. Unfortunately, collusion among bidders often limits competition in timber auctions, including in well-established market economies such as the United States. The result is that tracts sell below their fair market value, which undermines the advantages of auctions. This paper examines the Romanian auction system, with a focus on the use of econometric methods to detect collusion. It begins by describing the historical development of the system and the principal steps in the auction process. It then discusses the qualitative impacts of various economic and institutional factors, including collusion, on winning bids in different regions of the country. This discussion draws on information from a combination of sources, including unstructured interviews conducted with government officials and company representatives during 2003. Next, the paper summarizes key findings from the broader research literature on auctions, with an emphasis on empirical studies that have developed econometric methods for detecting collusion. It then presents an application of such methods to timber auction data from two forest directorates in Romania, Neamt and Suceava. This application confirms that data from Romanian timber auctions can be used to determine the likelihood of collusion, and it suggests that collusion reduced winning bids in Suceava in 2002 and perhaps also in Neamt. The paper concludes with a discussion of actions that the government can take to reduce the incidence of collusion and minimize its impact on auction outcomes.

IRS Computer Modernization and Procurement

Author : United States. Congress. Senate. Committee on Governmental Affairs
Publisher :
ISBN 13 :
Total Pages : 624 pages
Book Rating : 4.:/5 (51 download)

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Book Synopsis IRS Computer Modernization and Procurement by : United States. Congress. Senate. Committee on Governmental Affairs

Download or read book IRS Computer Modernization and Procurement written by United States. Congress. Senate. Committee on Governmental Affairs and published by . This book was released on 1993 with total page 624 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Analytics of Uncertainty and Information

Author : Sushil Bikhchandani
Publisher : Cambridge University Press
ISBN 13 : 1107433762
Total Pages : 509 pages
Book Rating : 4.1/5 (74 download)

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Book Synopsis The Analytics of Uncertainty and Information by : Sushil Bikhchandani

Download or read book The Analytics of Uncertainty and Information written by Sushil Bikhchandani and published by Cambridge University Press. This book was released on 2013-08-12 with total page 509 pages. Available in PDF, EPUB and Kindle. Book excerpt: There has been explosive progress in the economic theory of uncertainty and information in the past few decades. This subject is now taught not only in departments of economics but also in professional schools and programs oriented toward business, government and administration, and public policy. This book attempts to unify the subject matter in a simple, accessible manner. Part I of the book focuses on the economics of uncertainty; Part II examines the economics of information. This revised and updated second edition places a greater focus on game theory. New topics include posted-price markets, mechanism design, common-value auctions, and the one-shot deviation principle for repeated games.

Putting Auction Theory to Work

Author : Paul Robert Milgrom
Publisher : Cambridge University Press
ISBN 13 : 9780521536721
Total Pages : 396 pages
Book Rating : 4.5/5 (367 download)

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Book Synopsis Putting Auction Theory to Work by : Paul Robert Milgrom

Download or read book Putting Auction Theory to Work written by Paul Robert Milgrom and published by Cambridge University Press. This book was released on 2004-01-12 with total page 396 pages. Available in PDF, EPUB and Kindle. Book excerpt: Table of contents

Research in Experimental Economics

Author : R. Mark Isaac
Publisher :
ISBN 13 : 9781559386074
Total Pages : 310 pages
Book Rating : 4.3/5 (86 download)

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Book Synopsis Research in Experimental Economics by : R. Mark Isaac

Download or read book Research in Experimental Economics written by R. Mark Isaac and published by . This book was released on 1996 with total page 310 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Economics of Collusion

Author : Robert C. Marshall
Publisher : MIT Press
ISBN 13 : 0262300737
Total Pages : 315 pages
Book Rating : 4.2/5 (623 download)

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Book Synopsis The Economics of Collusion by : Robert C. Marshall

Download or read book The Economics of Collusion written by Robert C. Marshall and published by MIT Press. This book was released on 2012-04-27 with total page 315 pages. Available in PDF, EPUB and Kindle. Book excerpt: An examination of collusive behavior: what it is, why it is profitable, how it is implemented, and how it might be detected. Explicit collusion is an agreement among competitors to suppress rivalry that relies on interfirm communication and/or transfers. Rivalry between competitors erodes profits; the suppression of rivalry through collusion is one avenue by which firms can enhance profits. Many cartels and bidding rings function for years in a stable and peaceful manner despite the illegality of their agreements and incentives for deviation by their members. In The Economics of Collusion, Robert Marshall and Leslie Marx offer an examination of collusive behavior: what it is, why it is profitable, how it is implemented, and how it might be detected. Marshall and Marx, who have studied collusion extensively for two decades, begin with three narratives: the organization and implementation of a cartel, the organization and implementation of a bidding ring, and a parent company's efforts to detect collusion by its divisions. These accounts—fictitious, but rooted in the inner workings and details from actual cases—offer a novel and engaging way for the reader to understand the basics of collusive behavior. The narratives are followed by detailed economic analyses of cartels, bidding rings, and detection. The narratives offer an engaging entrée to the more rigorous economic discussion that follows. The book is accessible to any reader who understands basic economic reasoning. Mathematical material is flagged with asterisks.

Algorithms and Theory of Computation Handbook, Volume 2

Author : Mikhail J. Atallah
Publisher : CRC Press
ISBN 13 : 1584888210
Total Pages : 932 pages
Book Rating : 4.5/5 (848 download)

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Book Synopsis Algorithms and Theory of Computation Handbook, Volume 2 by : Mikhail J. Atallah

Download or read book Algorithms and Theory of Computation Handbook, Volume 2 written by Mikhail J. Atallah and published by CRC Press. This book was released on 2009-11-20 with total page 932 pages. Available in PDF, EPUB and Kindle. Book excerpt: Algorithms and Theory of Computation Handbook, Second Edition: Special Topics and Techniques provides an up-to-date compendium of fundamental computer science topics and techniques. It also illustrates how the topics and techniques come together to deliver efficient solutions to important practical problems.Along with updating and revising many of

Competition Policy

Author : Louis Phlips
Publisher : Cambridge University Press
ISBN 13 : 9780521498715
Total Pages : 292 pages
Book Rating : 4.4/5 (987 download)

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Book Synopsis Competition Policy by : Louis Phlips

Download or read book Competition Policy written by Louis Phlips and published by Cambridge University Press. This book was released on 1995-10-19 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book uses game theory to analyse anti-competitive behaviour among firms and to consider its implications for competition policy. Part I focuses on 'explicit collusion': the author proves that 'four are few and six are many', and shows how cartels can be enforced under imperfect and incomplete information. Part II on 'tacit collusion' discusses the informational requirements of collusion detection in noncooperative repeated games. In Part III on 'semicollusion', excess capacity is shown to reinforce collusion. Part IV is devoted to the detection of predatory pricing. In this book, Louis Phlips applies the latest economic theory to a discussion of several European antitrust decisions and empirical studies. The presentation of case studies, combined with a clear exposition of the theory, will make this book invaluable to teachers and students of competition policy.

The Handbook of Market Design

Author : Nir Vulkan
Publisher : Oxford University Press, USA
ISBN 13 : 0199570515
Total Pages : 706 pages
Book Rating : 4.1/5 (995 download)

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Book Synopsis The Handbook of Market Design by : Nir Vulkan

Download or read book The Handbook of Market Design written by Nir Vulkan and published by Oxford University Press, USA. This book was released on 2013-08-29 with total page 706 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Handbook brings together the latest research on applied market design. It surveys matching markets: environments where there is a need to match large two-sided populations to one another, such as law clerks and judges or patients and kidney donors.

Subcommittee Hearing on the Impact of Competitive Bidding on Small Businesses in the Durable Medical Equipment Community

Author : United States. Congress. House. Committee on Small Business. Subcommittee on Rural Development, Entrepreneurship, and Trade
Publisher :
ISBN 13 :
Total Pages : 176 pages
Book Rating : 4.0/5 ( download)

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Book Synopsis Subcommittee Hearing on the Impact of Competitive Bidding on Small Businesses in the Durable Medical Equipment Community by : United States. Congress. House. Committee on Small Business. Subcommittee on Rural Development, Entrepreneurship, and Trade

Download or read book Subcommittee Hearing on the Impact of Competitive Bidding on Small Businesses in the Durable Medical Equipment Community written by United States. Congress. House. Committee on Small Business. Subcommittee on Rural Development, Entrepreneurship, and Trade and published by . This book was released on 2009 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt:

A Handbook of Cultural Economics

Author : Ruth Towse
Publisher : Edward Elgar Publishing
ISBN 13 : 9781781008003
Total Pages : 516 pages
Book Rating : 4.0/5 (8 download)

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Book Synopsis A Handbook of Cultural Economics by : Ruth Towse

Download or read book A Handbook of Cultural Economics written by Ruth Towse and published by Edward Elgar Publishing. This book was released on 2003-01-01 with total page 516 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'Ruth Towse is to be congratulated on assembling such a high quality range of writers on cultural economics and on orchestrating their contributions so expertly. From anthropology and auctions through copyright and superstars to visual arts and welfare economics, scholars and general readers alike will discover in this Handbook an absorbing compendium of entries covering the main themes of a fascinating sub-discipline.' - Martin Ricketts, University of Buckingham, UK 'The best collection on cultural economics, definitive. An invaluable, original, and important addition to the field. Ruth Towse is the perfect person to put such a book together. Unlikely to be surpassed anytime soon.' - Tyler Cowen, George Mason University, Mercatus Center and James Buchanan Center for Political Economy, US A Handbook of Cultural Economics includes over 60 eminently readable and concise articles by 50 expert contributors. This unique Handbook is both highly informative and readable; it covers a wide area of cultural economics and its closely related subjects. While being accessible to any reader with a basic knowledge of economics, it presents a comprehensive study at the fore-front of the field. Of the many subjects discussed, chapters include: Art (including auctions, markets, prices, anthropology), artists' labour markets, arts management and corporate sponsorship, globalization, the internet, media economics, museums, non-profit organisations, opera, performance indicators, performing arts, publishing, regulation, tax expenditures, value of culture and welfare economics.

Issues in General Economic Research and Application: 2011 Edition

Author :
Publisher : ScholarlyEditions
ISBN 13 : 1464965056
Total Pages : 875 pages
Book Rating : 4.4/5 (649 download)

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Book Synopsis Issues in General Economic Research and Application: 2011 Edition by :

Download or read book Issues in General Economic Research and Application: 2011 Edition written by and published by ScholarlyEditions. This book was released on 2012-01-09 with total page 875 pages. Available in PDF, EPUB and Kindle. Book excerpt: Issues in General Economic Research and Application: 2011 Edition is a ScholarlyEditions™ eBook that delivers timely, authoritative, and comprehensive information about General Economic Research and Application. The editors have built Issues in General Economic Research and Application: 2011 Edition on the vast information databases of ScholarlyNews.™ You can expect the information about General Economic Research and Application in this eBook to be deeper than what you can access anywhere else, as well as consistently reliable, authoritative, informed, and relevant. The content of Issues in General Economic Research and Application: 2011 Edition has been produced by the world’s leading scientists, engineers, analysts, research institutions, and companies. All of the content is from peer-reviewed sources, and all of it is written, assembled, and edited by the editors at ScholarlyEditions™ and available exclusively from us. You now have a source you can cite with authority, confidence, and credibility. More information is available at http://www.ScholarlyEditions.com/.

Topics in Microeconomics

Author : Elmar Wolfstetter
Publisher : Cambridge University Press
ISBN 13 : 9780521645348
Total Pages : 394 pages
Book Rating : 4.6/5 (453 download)

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Book Synopsis Topics in Microeconomics by : Elmar Wolfstetter

Download or read book Topics in Microeconomics written by Elmar Wolfstetter and published by Cambridge University Press. This book was released on 1999-10-28 with total page 394 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book in microeconomics focuses on the strategic analysis of markets under imperfect competition, incomplete information, and incentives. Part I of the book covers imperfect competition, from monopoly and regulation to the strategic analysis of oligopolistic markets. Part II explains the analytics of risk, stochastic dominance, and risk aversion, supplemented with a variety of applications from different areas in economics. Part III focuses on markets and incentives under incomplete information, including a comprehensive introduction to the theory of auctions, which plays an important role in modern economics.

The Oxford Handbook of Private Equity

Author : Douglas Cumming
Publisher : Oxford University Press
ISBN 13 : 0199920931
Total Pages : 769 pages
Book Rating : 4.1/5 (999 download)

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Book Synopsis The Oxford Handbook of Private Equity by : Douglas Cumming

Download or read book The Oxford Handbook of Private Equity written by Douglas Cumming and published by Oxford University Press. This book was released on 2012-03-15 with total page 769 pages. Available in PDF, EPUB and Kindle. Book excerpt: The term private equity typically includes investments in venture capital or growth investment, as well as late stage, mezzanine, turnaround (distressed), and buyout investments. It typically refers to the asset class of equity securities in companies that are not publicly traded on a stock exchange. However, private equity funds do in fact make investments in publicly held companies, and some private equity funds are even publicly listed. Chapters in this book cover both private and public company investments, as well as private and publicly listed private equity funds. This Handbook provides a comprehensive picture of the issues surrounding the structure, governance, and performance of private equity. It comprises contributions from 41 authors based in 14 different countries. The book is organized into seven parts, the first of which covers the topics pertaining to the structure of private equity funds. Part II deals with the performance and governance of leveraged buyouts. Part III analyzes club deals in private equity, otherwise referred to as syndicated investments with multiple investors per investees. Part IV provides analyses of the real effects of private equity. Part V considers the financial effects of private equity. Part VI provides analyzes of listed private equity. Finally, Part VII provides international perspectives on private equity.

The Oxford Handbook of International Antitrust Economics, Volume 2

Author : Roger D. Blair
Publisher : Oxford University Press
ISBN 13 : 019938861X
Total Pages : 665 pages
Book Rating : 4.1/5 (993 download)

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Book Synopsis The Oxford Handbook of International Antitrust Economics, Volume 2 by : Roger D. Blair

Download or read book The Oxford Handbook of International Antitrust Economics, Volume 2 written by Roger D. Blair and published by Oxford University Press. This book was released on 2014-11-03 with total page 665 pages. Available in PDF, EPUB and Kindle. Book excerpt: More than any other area of regulation, antitrust economics shapes law and policy in the United States, the Americas, Europe, and Asia. In a number of different areas of antitrust, advances in theory and empirical work have caused a fundamental reevaluation and shift of some of the assumptions behind antitrust policy. This reevaluation has profound implications for the future of the field. The Oxford Handbook of International Antitrust Economics has collected chapters from many of the leading figures in antitrust. In doing so, this two volume Handbook provides an important reference guide for scholars, teachers, and practitioners. However, it is more than a merely reference guide. Rather, it has a number of different goals. First, it takes stock of the current state of scholarship across a number of different antitrust topics. In doing so, it relies primarily upon the economics scholarship. In some situations, though, there is also coverage of legal scholarship, case law developments, and legal policies. The second goal of the Handbook is to provide some ideas about future directions of antitrust scholarship and policy. Antitrust economics has evolved over the last 60 years. It has both shaped policy and been shaped by policy. The Oxford Handbook of International Antitrust Economics will serve as a policy and research guide of next steps to consider when shaping the future of the field of antitrust.

The Future of EMarkets

Author : Martin Bichler
Publisher : Cambridge University Press
ISBN 13 : 9780521003834
Total Pages : 266 pages
Book Rating : 4.0/5 (38 download)

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Book Synopsis The Future of EMarkets by : Martin Bichler

Download or read book The Future of EMarkets written by Martin Bichler and published by Cambridge University Press. This book was released on 2001 with total page 266 pages. Available in PDF, EPUB and Kindle. Book excerpt: Dynamic pricing and on-line auctions are emerging as the preferred models for e-business. Forrester Research predicts that business-to-business Internet auctions will grow to $52.6 billion by 2002, while dynamically priced business-to-business transactions will rise to $88 billion, representing 27% of the value of all business-to-business e-commerce transactions. This multi-disciplinary book presents a framework of negotiation protocols for electronic markets. It is the first book to combine economics with computer science and the first to describe multidimensional auction mechanisms - i.e. automated negotiations on multiple attributes and/or multiple units of a product. In addition it summarises the introductory economics needed to understand electronic markets, and surveys the literature on negotiation and auction theory. Case studies include the trading of financial derivatives. For use in the design, implementation and upgrade of electronic markets, for researchers in: economics, information systems and operations management, computer science and all students of the e-commerce phenomenon.

Econometrics

Author : American Bar Association. Section of Antitrust Law
Publisher : American Bar Association
ISBN 13 : 9781590315170
Total Pages : 524 pages
Book Rating : 4.3/5 (151 download)

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Book Synopsis Econometrics by : American Bar Association. Section of Antitrust Law

Download or read book Econometrics written by American Bar Association. Section of Antitrust Law and published by American Bar Association. This book was released on 2005 with total page 524 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The economic expert has become a central figure in virtually every antitrust litigation or merger matter, and the importance of econometrics has increased significantly. A basic understanding of econometric principles has now become almost essential to the serious antitrust practitioner. This volume is designed to introduce lawyers to the theoretical and practical issues of econometrics, providing necessary tools for working effectively with economic experts on both sides of a matter." -- from the Foreword, p. xv.