Collusion in uniform-price auctions: Experimental evidence and implications for Treasury auctions
In uniform-price auctions of shares there exist collusive equilibria in which bidders capture the entire surplus from the auction as well as competitive equilibria in which the auctioneer captures the entire surplus from the auction. We provide experimental evidence that, in uniform-price auctions,...
| Autori principali: | , , |
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| Natura: | Journal article |
| Pubblicazione: |
1996
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