Interim bribery in auctions

Sevket Alper Koc and William Neilson

Economics Letters, 2008, vol. 99, issue 2, 238-241

Abstract: Bidders can bribe the auctioneer before they bid, with the auctioneer lowering the winner's bid if the winner paid the bribe. In equilibrium bidders employ a cutoff strategy and corruption affects neither efficiency nor the bidders' expected payoffs.

Date: 2008
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Citations: View citations in EconPapers (11)

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