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Collusion via Signalling in Simultaneous Ascending Bid Auctions with Heterogeneous Objects, with and without Complementarities

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  • Sandro Brusco
  • Giuseppe Lopomo

Abstract

Collusive equilibria exist in simultaneous ascending bid auctions with multiple objects, even with large complementarities in the buyers' utility functions. The bidders collude by dividing the objects among themselves, while keeping the prices low. In the most collusive equilibrium the complementarities are never realized. The scope for collusion however narrows as the ratio between the number of bidders and the number of objects increases. Copyright 2002, Wiley-Blackwell.

Suggested Citation

  • Sandro Brusco & Giuseppe Lopomo, 2002. "Collusion via Signalling in Simultaneous Ascending Bid Auctions with Heterogeneous Objects, with and without Complementarities," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 69(2), pages 407-436.
    • Handle: RePEc:oup:restud:v:69:y:2002:i:2:p:407-436
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    File URL: http://hdl.handle.net/10.1111/1467-937X.00211
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