Anatomy of the rise and fall of a price-fixing conspiracy: auctions at Sotheby's and Christie's
The Sotheby's/Christie's price-fixing scandal that ended in the public trial of Alfred Taubman provides a unique window on a number of key economic and antitrust policy issues related to the use of the auction system. The trial provided detailed evidence as to how the price fixing worked,...
| Main Authors: | , |
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| Formato: | Working paper |
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University of Oxford
2004
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| _version_ | 1826281581548929024 |
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| author | Graddy, K Ashenfelter, O |
| author_facet | Graddy, K Ashenfelter, O |
| author_sort | Graddy, K |
| collection | OXFORD |
| description | The Sotheby's/Christie's price-fixing scandal that ended in the public trial of Alfred Taubman provides a unique window on a number of key economic and antitrust policy issues related to the use of the auction system. The trial provided detailed evidence as to how the price fixing worked, and the economic conditions under which it was started and began to fall apart. The outcome of the case also provides evidence on the novel auction process used to choose the lead counsel for the civil settlement. Finally, though buyers received the bulk of the damages, a straightforward application of the economic theory of auctions shows that it is unlikely that successful buyers as a group were injured. |
| first_indexed | 2024-03-07T00:30:57Z |
| format | Working paper |
| id | oxford-uuid:7fc9f008-171d-4a90-b73c-ee826c3e3464 |
| institution | University of Oxford |
| last_indexed | 2024-03-07T00:30:57Z |
| publishDate | 2004 |
| publisher | University of Oxford |
| record_format | dspace |
| spelling | oxford-uuid:7fc9f008-171d-4a90-b73c-ee826c3e34642022-03-26T21:19:06ZAnatomy of the rise and fall of a price-fixing conspiracy: auctions at Sotheby's and Christie'sWorking paperhttp://purl.org/coar/resource_type/c_8042uuid:7fc9f008-171d-4a90-b73c-ee826c3e3464Symplectic ElementsBulk import via SwordUniversity of Oxford2004Graddy, KAshenfelter, OThe Sotheby's/Christie's price-fixing scandal that ended in the public trial of Alfred Taubman provides a unique window on a number of key economic and antitrust policy issues related to the use of the auction system. The trial provided detailed evidence as to how the price fixing worked, and the economic conditions under which it was started and began to fall apart. The outcome of the case also provides evidence on the novel auction process used to choose the lead counsel for the civil settlement. Finally, though buyers received the bulk of the damages, a straightforward application of the economic theory of auctions shows that it is unlikely that successful buyers as a group were injured. |
| spellingShingle | Graddy, K Ashenfelter, O Anatomy of the rise and fall of a price-fixing conspiracy: auctions at Sotheby's and Christie's |
| title | Anatomy of the rise and fall of a price-fixing conspiracy: auctions at Sotheby's and Christie's |
| title_full | Anatomy of the rise and fall of a price-fixing conspiracy: auctions at Sotheby's and Christie's |
| title_fullStr | Anatomy of the rise and fall of a price-fixing conspiracy: auctions at Sotheby's and Christie's |
| title_full_unstemmed | Anatomy of the rise and fall of a price-fixing conspiracy: auctions at Sotheby's and Christie's |
| title_short | Anatomy of the rise and fall of a price-fixing conspiracy: auctions at Sotheby's and Christie's |
| title_sort | anatomy of the rise and fall of a price fixing conspiracy auctions at sotheby s and christie s |
| work_keys_str_mv | AT graddyk anatomyoftheriseandfallofapricefixingconspiracyauctionsatsothebysandchristies AT ashenfeltero anatomyoftheriseandfallofapricefixingconspiracyauctionsatsothebysandchristies |