Missing Bids
نویسندگان
چکیده
We document a novel bidding pattern observed in procurement auctions from Japan: winning bids tend to be isolated. We prove that in a general class of models, missing bids robustly indicate non-competitive behavior. In addition, we provide evidence that missing bids coincide tightly with known cartel activity. Finally, we show that missing bids are consistent with efficient collusion in environments where it is difficult for bidders to coordinate on precise bids.
منابع مشابه
Online Appendix for “Measuring the Performance of Large-Scale Combinatorial Auctions: A Structural Estimation Approach”
Index Sets. We let R denote the set of geographical regions indexed by r (recall that each geographical region contains several TUs). We let Af be the set of packages on which firm f places bids. They are to distinguish from A in case of missing bids (unobserved bids) by firm f . Arf ⊆ Af represents the set of packages in Af that contain at least one TU in region r. Finally, we let |a| denote t...
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تاریخ انتشار 2018