Tacit Collusion in Auctions and Conditions for Its Facilitation and Prevention: Equilibrium Selection in Laboratory Experimental Markets Jin Li Massachusetts Institute of Technology Charles R. Plott California Institute of Technology The paper studies bidder behavior in simultaneous, continuous, ascending price auctions. The purpose is to create (possibly extreme) conditions under which tacit c...

Purpose – This paper aims to report on an empirical case study, (single case multi-site) employing both a ‘‘hard’’ and ‘‘soft’’ method. The tangible, visible component of the study was the production of a database whose fields were to be the source of tacit knowledge emergence. Design/methodology/approach – The proposition was that the possibility for the capture of tacit knowledge was subject ...

The paper studies bidder behavior in simultaneous, continuous, ascending price auctions. The purpose is to create (possibly extreme) conditions under which tacit collusion develops quickly, naturally and reliably; study models of its development, and then study institutional and environmental remedies that would cause it to evolve into competitive behavior. Special environments were implemented...

world, all available information is used, price wars never happen, and the collusive constraint is always binding. This cannot be taken as a serious description of the world of gasoline retailing. It is plausible, however, that station operators, for example, recognize that reducing their own prices induces price cutting at rival stations. They also might reasonably expect that once price cutti...

This paper highlights the rationale for exclusive territories in a model of repeated interaction between competing supply chains. We show that with observable contracts exclusive territories have two countervailing effects on manufacturers’ incentives to sustain tacit collusion. First, granting local monopolies to retailers softens competition in a one-shot game. Hence, punishment profits are l...

We test whether a non-binding price ceiling may serve as a focal point for tacit collusion, using data from the credit card market during the 1980s. In our sample, most credit card issuers face a state-level interest rate ceiling, and well over half match their ceiling. We develop an empirical model that can separately identify the instance in which an issuer matches its ceiling because it is b...

The aim of this paper is to demonstrate the value of the adoption of a feminist epistemology in information, communication and technology (ICT) gender research. Much of the research undertaken in ICT in relation to gender issues adopts a positivist philosophy with some notable exceptions. A feminist research approach is rarely used in ICT gender research. This is despite the fact that it is gen...

Knowledge management is a process through which organisational intellectual capital and information can be managed. In order to be successful, both large and small organizations rely on their acquired information and intellectual capital. The use of knowledge in organizations can attribute to improvements in organisational processes and is a key element in creating and sustaining competitive ad...

Tacit knowledge is embedded in people’s experiences, expertise, know-how, skills, techniques, insights, judgments, actions or behaviors. This knowledge is a source of innovation that can provide dynamic responses to context specific problems. Effective exploitation and management of tacit knowledge is critical, but the subject of tacit knowledge in general and the process of its externalization...

People are able to determine whether or not a given document is interesting just by glancing through it. However, when asked to make explicit the rules upon which such a decision is based, they are unable to do so. This, I argue, is because tacit knowledge is involved in this process. Tacit knowledge constituted the major part of the body of knowledge and it is therefore important for organisat...