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Auctions and Corruption

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Author Info
Yvan Lengwiler
Elmar Wolfstetter ()

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Abstract

In many auctions, the auctioneer is an agent of the seller. This delegation invites corruption. In this paper we propose a model of corruption, examine how corruption affects the auction game, how the anticipation of corruption affects bidding, and how it altogether changes the revenue ranking of typical auctions. In addition we characterize incentive schemes that may prevent corruption, and compare them to the fee schedules employed by major auction houses.

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File URL: http://www.cesifo-group.de/DocCIDL/cesifo_wp401.pdf
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Publisher Info
Paper provided by CESifo Group Munich in its series CESifo Working Paper Series with number CESifo Working Paper No. 401.

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Date of creation: 2000
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Handle: RePEc:ces:ceswps:_401

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Related research
Keywords: Auctions; procurement; corruption; collusion; coalitions;

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Find related papers by JEL classification:
D44 - Microeconomics - - Market Structure and Pricing - - - Auctions

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. McAfee, R Preston & McMillan, John, 1987. "Auctions and Bidding," Journal of Economic Literature, American Economic Association, vol. 25(2), pages 699-738, June. [Downloadable!] (restricted)
  2. McAfee, R Preston & McMillan, John, 1992. "Bidding Rings," American Economic Review, American Economic Association, vol. 82(3), pages 579-99, June. [Downloadable!] (restricted)
    Other versions:
    • McAfee, R. Preston & McMillan, John., 1990. "Bidding Rings," Working Papers 726, California Institute of Technology, Division of the Humanities and Social Sciences. [Downloadable!]
  3. Engelbrecht-Wiggans Richard, 1994. "Auctions with Price-Proportional Benefits to Bidders," Games and Economic Behavior, Elsevier, vol. 6(3), pages 339-346, May. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Roberto Burguet & Martin Perry, 2007. "Bribery and Favoritism by Auctioneers in Sealed-Bid Auctions," Contributions to Theoretical Economics, Berkeley Electronic Press, vol. 7(1), pages 1219-1219. [Downloadable!] (restricted)
    Other versions:
  2. Susanne Büchner & Andreas Freytag & Luis G. Gonzalez & Werner Güth, 2006. "Bribery and Public Procurement - An Experimental Study -," Papers on Strategic Interaction 2005-30, Max Planck Institute of Economics, Strategic Interaction Group. [Downloadable!]
    Other versions:
  3. Federico Weinschelbaum & Leandro Arozamena, 2004. "The Effect of Corruption on Bidding Behavior in First-Price Auctions," Econometric Society 2004 Latin American Meetings 180, Econometric Society. [Downloadable!]
  4. Claudio Weber Abramo, 2003. "Prevention and detection in bribery-affected public procurement," Public Economics 0309001, EconWPA. [Downloadable!]
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