323:
983:, in the real estate industry, may occur when the bank "tentatively" auctions a foreclosed home and gives bidders an option to give "preliminary bids" for homes that are not yet authorized for auction. If the reserve bids are not met, the home is updated as "never was available for auction" even though bids were received. Some houses are auctioned at fire-sale prices, and the auctions are closed before the auction was formally announced. Investors rush to get in their preliminary bids before the house is technically up for auction. Bidders fear losing options so it results in more bids, and naturally, higher prices. If bidders fail to reach the target bids, the item was never available for auction. Banks do that because if they unloaded all of their
1001:
behaviors, such as bid rigging, create market inefficiencies as contracts are fulfilled at elevated values. Furthermore, bid prices increase with more repeated collusion. Ultimately, the cost is typically borne by the taxpayer as government-sponsored contracts are artificially above market value. Additionally, it can be thought of as raising prices for the taxpayer (or consumer) as firms rent seek. One study found that bid rigging significantly raised prices over market value in the seafood industry in
Philadelphia in a bidding scheme involving Defense Personnel Support Center, a purchaser for the Department of Defense. The high price of entry and fewer entrants in many industries results in lessened incentives for firms to behave competitively.
825:, for example in the case of government construction contracts. The typical objective of bid rigging is to enable the "winning" party to obtain contracts at uncompetitive prices (i.e., at higher prices if they are sellers, or lower prices if they are buyers). The other parties are compensated in various ways, for example, by cash payments, or by being designated to be the "winning" bidder on other contracts, or by an arrangement where some parts of the successful bidder's contract will be subcontracted to them. In this way, they "share the spoils" among themselves. Bid rigging almost always results in economic harm to the agency which is seeking the bids, and to the public, who ultimately bear the costs as taxpayers or consumers.
1189:
unit quotes. The fines from this bid rigging scheme amounted to €45 million following an initial court decision, an over-ruling, and a reinstatement of the initial verdict. In 2007, a
Slovakian government ministry participated in bidder exclusion by posting a request for proposals regarding consulting on a bulletin board in an official building, though not open to the public. This resulted in a consulting firm winning a €120 million contract. The word for receiving kickbacks after participating in bid rigging is known as "tunelovanie" in Slovak.
1062:, or if there is reason to believe that officials and bidders are in contact, an open auction is preferred to sidestep potential bribery. When officials are engaged in more competitive procurement processes with regard to price but are suspected of kickbacks, a potential solution is the open auction to prevent clandestine arrangements such as change order abuse. If a closed or sealed auction process is preferred, the use of electronic bidding and investment in tamper-resistant systems is suggested.
931:, occurs when some of the bidders agree to submit bids that are intended to be unsuccessful so that another conspirator can win the contract. For example, the cover bids might contain prices that are uncompetitive in relation to the prices submitted by the conspirator, who is designated to win the contract, or the cover bids might contain conditions that the conspirators know to be unacceptable to the agency calling for the bids.
1228:"Indeed, the OFT uncovered evidence of cover pricing in over 4000 tenders involving over 1000 companies but had to focus its investigation on a limited number of companies and instances where the available evidence was strongest, in order to make best use of its resources and conclude its investigation within a reasonable timeframe. The OFT could not, therefore, pursue every firm suspected of involvement in cover pricing."
49:
1176:(TFEU). The annual cost to the EU in economic waste as a direct result of bid rigging among cartels was estimated to be between €13 billion and €37 billion in 2008. Bid rigging seems to be on the rise across Europe, raising concerns particularly over excessive expenditures and single-bid tenders. These single-bid tenders represented 17% of tenders in 2006, but 30% nine years later.
1305:
meaning that they were more likely to continue to win additional contracts in areas they were already developing. This was discovered to be a result of complementary bidding. Some legal action has been undertaken against these bid rigging schemes with nine contracting companies and several officials being charged and fined $ 5 billion in 1999.
1088:. Petrobras is suspected of having overcharged bids as much as 3% of the total cost on contracts with an alleged $ 2.1 billion being misappropriated in kickbacks. Operation Car Wash is part of a larger investigation into Brazil's government as well and has contributed to the conviction and imprisonment of former president
895:
simultaneously skimming profits from the artificially high bid price. Additionally, bidders may give low quotes for non-necessary items (knowledge gained through collusion or experience) to disadvantage other firms as their bid amount is more competitive. This also serves to increase the cost of entry for new firms.
1188:
Bid rigging is illegal in
Slovakia under the Act on the Protection of Competition and by EU membership, also Article 101 of TFEU. The first charges to be brought to court in Slovakia in 2006 by the Antimonopoly Office involved six construction companies who submitted bids with suspiciously consistent
991:
Those forms of bid rigging can occur together, and two or more of the practices could occur at the same time. For example, if one member of the bidding ring is designated to win a particular contract, that bidder's conspirators could avoid winning by not bidding ("bid suppression") or by submitting a
1028:
At a very basic level, there would likely be more competitive bidding if there were more firms present in a market, outside of a cartel, as evidence shows that bids lessen in value as the number of firms rises. Furthermore, collusion becomes less frequent with better market competitiveness, a result
1000:
Many of the issues presented by bid rigging are the result of cartel involvement. Inefficient firms are not pushed out, as they would have been in a competitive market, and firms experience more profit, despite an inefficient allocation of resources. Cartels behave more like monopolies and so their
894:
involves high bid prices for commencing phases of development and low prices for later stages. That effectively increases the flow of funds for the bidding firm. This occurs when bidders cite high prices for items, intending to raise the number of units and purchase them at a competitive rate while
1304:
In a three-and-a-half-year period from 1995 to 1998 there was an estimated $ 4.13 billion surcharge attributed to bid rigging in Korea's construction industry, representing 15.5% of the total spent. It was also found that firms already present in an area enjoyed a significant degree of incumbency,
1276:
is often supported though as allowing small firms to continue to compete, though detractors are quick to point to the economic inefficiencies presented by a non-competitive market. The US Government, specifically the United States Trade
Representative Office and Department of Commerce, made fierce
1260:
Although both a violation of
Japanese criminal law and the Japan Anti-Monopoly Law, bid rigging is still a habitual practice of the Japanese construction industry. It has been shown by a number of academic studies both in Japan and in the US to be a system which considerably inflates the cost of
961:
are false bids to trick a legitimate bidder into bidding more than would have otherwise been the case. The seller or auctioneer hires confederates to call out the phantom bids. If the phantom bid is the winner, the lot is hidden and comes back around for a second auction, or the second-highest
937:
occurs when bidders take turns being the designated successful bidder. For example, each conspirator is designated to be the successful bidder on a certain contract, with conspirators designated to win other contracts. That is a form of market allocation in which the conspirators allocate or
1281:
as a de facto non-tariff barrier to foreign firms in the
Japanese construction market. Despite years of negotiations, including promises by the Japanese government in the Structural Impediment Initiative (SII) trade talks, the practice was never fully stamped out and continued to flourish.
1126:
From 2002 until 2013, the
Colombian government opened 121 investigations into bid rigging, which lead to sixty-nine entities paying fines amounting to nearly $ 23.5 million, with an additional nine entities receiving sanctions. Colombia was found to generally comply with the
868:
to reduce the minimum bid amount. That functions as contracts are split up to reduce the actual procurement amount and keep it under a threshold value. That reduces competitive bidding and enables less oversight at the project level as bid prices drop and kickbacks can be
1108:. This would not be the first instance of bid rigging by construction firms in recent Brazilian history as Andrade Gutierrez Engenharia SA, the nation's second largest construction firm, admitted to bid rigging during contract procurement for stadiums to host the
1271:
can be understood as a mutually beneficial system of bureaucracy and government and the private construction industry wherein bid rigging is incredibly common, benefiting colluding firms and officials alike in the form of kickbacks. The system of
881:
is another method for officials to choose the bidder of their choice but occurs after receipt of bids. The methods for this would include either changing bid parameters, evaluation processes, or other activity to effectively select the bidder of
938:
apportion markets, products, customers or geographic territories among themselves. This is then divided up such that each will get a "fair share" of the total business, without truly having to compete with the others for that business.
1235:
Many of the businesses involved cooperated fully with the OFT investigation and it was acknowledged that they had changed their bidding practices and provided staff training on competition law once the OFT had raised the issue.
1224:(OFT) on 103 construction companies found to have engaged in illegal bid-rigging schemes. The OFT commented that cover pricing, the form of bid rigging involved in these cases, was widespread in the UK construction industry.
1197:
Bid rigging occurs frequently in the construction industry in
Switzerland. In 2007, seventeen different firms were involved in a bid rigging scheme but there was no prosecution as the ring had disbanded before
1173:
1103:
The
Petrobras scandal extends beyond bid rigging in the oil sector as the investigation has also implicated Brazilian construction firms as bid rigging was discovered to be rampant in the preparations for the
842:
occurs when a contractor colludes with project officials, wins a low bid, and asks to change the contract afterwards. That is approved by officials, resulting in a much higher bid being retroactively approved.
1057:
Suggestions for ameliorating procurement auctions have also been put forth. Lengstein and
Wolfstetter suggest that when a particular bidder is preferred, disregarding cost, possible reforms include a sealed
972:
is the strategy in which the auctioneer or seller bids on a lot and buys it back to protect it from being sold to the highest bidder for an insufficient price. That is fraud if the auction is advertised as
1881:
111:
2293:
in the cases of Quarmby Construction Company Limited and St James Securities Holdings Limited v Office of Fair Trading, unofficial summary published 15 April 2011, accessed 19 January 2024
851:
Instituting unreasonable qualification parameters, excluding non-preferred firms, or effectuating the same by shortening the time of acceptance periods for new bids following a request.
2015:
1025:
Bid rigging is an illegal practice under the criminal or competition laws of most developed countries. Depending on the jurisdiction, it is punishable by fines, imprisonment or both.
944:
can be a factor fostering the presence of bid rigging; for instance, it is the case of marketing agencies that bid for the same ad space on behalf of different and competing agents.).
1247:
figures for the wrong year when calculating fines, and treated the bid-rigging as more serious than it should have done, although in some other respects the OFT's ruling was upheld.
1205:, in 2011, a bid rigging scheme was discovered wherein seventeen firms were fined eight million Swiss francs though the appeals are ongoing. Multiple other cases are still ongoing.
1033:
962:
legitimate bidder is informed that the first bidder was unable to make payment. In online auctions, the latter ruse is pulled via a (secretly illegitimate) "second-chance offer."
2277:
1990:
2108:
888:
allow more bidder exclusion by officials by either tailoring requests to individual bidders or creating a vague criterion to reasonably choose a preferred bidder.
1232:
Cover pricing involves high price bidding, intended "to give the appearance of genuine competition", by businesses who, "in reality, ... are not competing".
2133:
1114:
289:
1843:
322:
2252:
Information note to procuring entities in the public and private sectors regarding the OFT’s decision on bid rigging in the construction industry
1199:
875:, which requires a relationship of some degree between the project and a bidder as the bidder is handed information to gain an unfair advantage.
537:
1885:
1053:
Reducing potential for communication between bidders and procurement officials and adhering to a strict criterion and process of evaluation.
809:
action which enables companies to submit non-competitive bids. It can be performed by corrupt officials, by firms in an orchestrated act of
1261:
construction projects, and in the Japanese public sector, considerably wasteful of annual tax money amounting to billions of Japanese yen.
901:
are bids chosen on criteria unrelated to their competitiveness. That can be performed blatantly, by falsifying bids, or by price splitting.
2464:
1296:
As of 2008, thirteen lawsuits were still pending over 1990s' bid rigging for local government contracts to supply incinerator plants.
2474:
1010:
789:
527:
258:
2038:
1017:
in 2016 aiming to promote good practice among procurement and supply staff, and detailing indications they should watch out for.
452:
2251:
447:
96:
502:
497:
2469:
2264:
1357:
Choi, Jin-Wook (2007). "Governance Structure and Administrative Corruption in Japan: An Organizational Network Approach".
1201:
In 2009, a ring of seven electricity firms from Bern were charged with bid rigging and fined two million Swiss francs. In
282:
201:
1898:
848:
allows project officials to essentially choose their bid. There are multiple methods to achieve that like the following:
2415:
Lee, In Kwon; Hahn, Kyungdong (2002). "Bid-Rigging in Auctions for Korean Public-Works Contracts and Potential Damage".
1148:. Even so, bid rigging is still rampant in the construction industry, auto sale auctions, and foreclosed home auctions.
1089:
722:
417:
1864:
1240:
577:
412:
2349:
1808:
Froeb, Luke M.; Koyak, Robert A.; Werden, Gregory J. (January 1993). "What is the effect of bid-rigging on prices?".
860:
Coercion and intimidation can also be used, as well as the simple rejection of individual bids over trivial matters.
987:
at once, the housing market would collapse, which causes foreclosed homes to be dribbled out with phantom auctions.
130:
65:
813:, or by officials and firms acting together. This form of collusion is illegal in most countries. It is a form of
2479:
1267:
refers to collusion in Japanese, or more precisely, "conference", and is an extremely prevalent system in Japan.
757:
2168:
1293:, resigned over a series of bid rigging allegations and was subsequently sentenced to over three years in jail.
917:
occurs when some of the conspirators agree not to submit bids to allow another conspirator to win the contract.
672:
275:
2324:
2290:
2280:
in the cases of G F Tomlinson Building and others, CAT 7, published 24 March 2011, accessed 16 January 2024
1765:
Gupta, Srabana (2001). "The Effect of Bid Rigging on Prices: A Study of the Highway Construction Industry".
657:
467:
782:
1221:
175:
854:
Advertising projects to select bidders or bidding markets, thereby reducing publicity of bid procurement.
1092:. In early January 2018, Petrobras settled a United States class action case for $ 2.95 billion, though
966:
is a legitimate bidder's best chance to foil a shill bidder who aims to drive up the price artificially.
717:
662:
622:
517:
512:
402:
377:
263:
1511:
1559:
1436:
Woodall, Brian (1993). "The Logic of Collusive Action: The Political Roots of Japan's Dango System".
1105:
507:
407:
218:
213:
101:
1112:. This revelation implicates an additional five domestic construction firms and was revealed by the
1290:
1214:
1109:
727:
652:
367:
350:
2189:
2440:
2160:
2087:
1947:
1790:
1744:
1719:
Black, William K. (October 2004). "The Dango Tango: Why Corruption Blocks Real Reform in Japan".
1698:
1607:
1461:
1403:
1334:
1081:
1047:
Maximizing the number of bids and potential contractors for enhanced competition among proposals.
974:
682:
522:
477:
237:
159:
2303:
2432:
2230:
2152:
2079:
2062:
Maci, Marsela (April 2012). "Private Enforcement in Bid-Rigging Cases in the European Union".
1939:
1825:
1782:
1736:
1631:
1487:
1453:
1395:
1374:
1180:
estimated that the overall annual cost posed to the EU by bid cost increases was $ 5 billion.
1144:
In the United States, bid rigging is a federal felony criminal offense under Section 1 of the
732:
687:
542:
472:
382:
362:
306:
223:
208:
91:
79:
28:
1415:
Porter, Robert; Zona, J. Douglas (1992). "Detection of Bid Rigging in Procurement Auctions".
2424:
2222:
2144:
2071:
1931:
1817:
1774:
1728:
1688:
1583:
1445:
1424:
1366:
1202:
1177:
775:
762:
677:
572:
492:
462:
457:
387:
232:
186:
182:
84:
2394:
2373:
1535:
1339:
1157:
1059:
963:
637:
602:
597:
592:
532:
487:
437:
432:
397:
345:
340:
191:
170:
116:
40:
1655:
1244:
1169:
1093:
742:
707:
647:
547:
442:
422:
392:
355:
139:
121:
1044:
Developing expertise and awareness of the market for which a tender is being designed.
2458:
2444:
2164:
2091:
1965:
1951:
1821:
1794:
1748:
1370:
1286:
822:
642:
427:
228:
196:
1702:
1277:
efforts in the late 1980s and early 1990s to urge the Japanese government to reform
1344:
984:
814:
697:
692:
667:
627:
582:
482:
242:
155:
106:
1386:
LaCasse, Chantale (1995). "Bid Rigging and the Threat of Government Prosecution".
48:
1156:
In Canada, bid rigging is an indictable criminal offence under Section 47 of the
1145:
1097:
1014:
806:
632:
567:
2075:
2428:
1778:
1329:
2436:
2395:"Builders settle damages suit over bid-rigging | The Japan Times Online"
2234:
2156:
2083:
1943:
1829:
1786:
1740:
1457:
1399:
1378:
2226:
1324:
1243:
revised the values of the fines. The tribunal decided that the OFT had used
1085:
810:
144:
74:
17:
2213:
Huschelrath, K. (2012-12-17). "Economic Approaches to Fight Bid Rigging".
1213:
In the United Kingdom, individuals can be prosecuted criminally under the
2148:
2134:"The First Bid Rigging Case in Slovakia after Years of Judicial Disputes"
1923:
1732:
1084:
is an ongoing investigation into the Brazilian semi-public multinational
818:
752:
70:
1935:
1407:
1314:
612:
557:
372:
330:
314:
2039:"Fighting Bid Rigging in Public Procurement in Colombia - 2014 - OECD"
1465:
1680:
1319:
907:
150:
1966:"Petrobras scandal | Summary, Explanation, & Operation Car Wash"
2016:"Brazil builder admits to World Cup stadium cartel in deal with..."
1991:"Petrobras to pay $ 2.95 billion to settle U.S. corruption lawsuit"
1693:
1449:
1899:"Guidelines for Fighting Bid Rigging in Public Procurement - OECD"
1428:
1174:
Article 101 of the Treaty on the Functioning of the European Union
1681:"Marketing agencies and collusive bidding in online ad auctions"
1423:. Cambridge, MA: National Bureau of Economic Research: 518–538.
1128:
1037:
1679:
Decarolis, Francesco; Goldmanis, Maris; Penta, Antonio (2017).
1239:
The fines were subsequently deemed to be "excessive" and the
47:
975:
an absolute auction, meaning that there are no reserve bids
1844:"Checklist to design tender methods to reduce bid rigging"
1038:
its work on bid-rigging and cartels in public procurement
1100:
had expected a settlement between $ 5 and $ 10 billion.
1131:'s recommendations regarding competitive procurement.
1040:, makes the following suggestions for better tenders:
1034:
Organisation for Economic Co-operation and Development
1760:
1758:
2254:, published 22 September 2009, accessed 27 May 2024
2215:Journal of European Competition Law & Practice
1656:"Potential Scheme: Unjustified Sole Source Awards"
1865:CMA publishes guidance to help detect bid-rigging
1050:Striving for clarity in requirements and details.
1685:National Bureau of Economic Research, No. W23962
1922:Lengwiler, Yvan; Wolfstetter, Elmar G. (2006).
1512:"Potential Scheme: Excluding Qualified Bidders"
1226:
1560:"Potential Scheme: Leaking of Bid Information"
2289:Registry of the Competition Appeal Tribunal,
817:and market allocation, often practiced where
783:
283:
8:
2267:, published March 2024, accessed 27 May 2024
1115:Conselho Administrativo de Defesa EconĂ´mica
790:
776:
301:
290:
276:
36:
2132:Blaao, Ondrej; Sramelova, Silvia (2015).
1888:on 24 June 2016, accessed 18 January 2024
1692:
1608:"Potential Scheme: Rigged Specifications"
857:Bundling of contracts to exclude bidders.
251:Enforcement authorities and organizations
1584:"Potential Scheme: Manipulation of Bids"
1479:
741:
706:
611:
556:
329:
313:
250:
129:
57:
39:
2246:
2244:
1884:, published 20 June 2016, archived by
1632:"Potential Scheme: Unbalanced Bidding"
1488:"Potential Scheme: Change Order Abuse"
27:For the New Jersey investigation, see
2397:. Search.japantimes.co.jp. 2009-04-04
2376:. Search.japantimes.co.jp. 2009-03-28
2183:
2181:
2103:
2101:
1714:
1712:
7:
1924:"Corruption in Procurement Auctions"
2291:Judgment (Non-confidential version)
2190:"E.U. Cash Tunnel Ends in Slovakia"
2188:Castle, Stephen (9 November 2010).
1882:Detecting and deterring bid-rigging
1880:Competition and Markets Authority,
1536:"Potential Scheme: Split Purchases"
949:As a seller, auctioneer or official
1220:In 2011, fines were levied by the
1029:of reduced ability to compromise.
25:
2417:Review of Industrial Organization
2325:"New York Times report from 1995"
2304:"US Department of Justice report"
1767:Review of Industrial Organization
1011:Competition and Markets Authority
259:International Competition Network
1371:10.1111/j.1540-6210.2007.00779.x
321:
1168:Bid rigging is illegal in the
899:Unjustified sole source awards
264:List of competition regulators
1:
2276:Competition Appeal Tribunal,
1388:The RAND Journal of Economics
2064:European Competition Journal
1822:10.1016/0165-1765(93)90095-t
1417:Journal of Political Economy
1359:Public Administration Review
992:high bid ("cover bidding").
805:is a fraudulent scheme in a
1241:Competition Appeal Tribunal
2496:
2465:Anti-competitive practices
2076:10.5235/174410512800369973
1871:, accessed 18 January 2024
1066:Notable examples by region
873:Leaking of bid information
131:Anti-competitive practices
97:Herfindahl–Hirschman index
66:History of competition law
26:
2265:Cartels and Cover Pricing
2141:SSRN Working Paper Series
1928:SSRN Working Paper Series
1721:Business Ethics Quarterly
1090:Luiz Inácio Lula da Silva
915:Bid suppression collusion
758:Private electronic market
34:Form of procurement fraud
2475:Organized crime activity
2250:Office of Fair Trading,
1687:. Working Paper Series.
453:Generalized second-price
2429:10.1023/a:1016018505021
2306:. Usdoj.gov. 1994-09-16
1970:Encyclopedia Britannica
1779:10.1023/a:1012568509136
1289:, the then governor of
448:Generalized first-price
1230:
1222:Office of Fair Trading
503:Simultaneous ascending
176:Occupational licensing
52:
2227:10.1093/jeclap/lps071
1886:The National Archives
1444:(3). JSTOR: 297–312.
1394:(3). Wiley: 398–417.
1365:(5). Wiley: 930–942.
921:Complementary bidding
886:Rigged Specifications
834:As acts of corruption
538:Vickrey–Clarke–Groves
51:
2470:Conflict of interest
2374:"Japan Times report"
2149:10.2139/ssrn.2741673
1733:10.5840/beq200414442
1438:Comparative Politics
1106:2016 Summer Olympics
821:are determined by a
418:Discriminatory price
219:Occupational closure
214:Dividing territories
202:Essential facilities
102:Market concentration
2350:"Britanica Article"
1936:10.2139/ssrn.874705
1291:Miyazaki Prefecture
1215:Enterprise Act 2002
1110:2014 FIFA World Cup
728:Revenue equivalence
413:Deferred-acceptance
2329:The New York Times
2194:The New York Times
2109:"Rigging the bids"
1989:Pierson, Brendan.
1335:Operation Car Wash
1082:Operation Car Wash
892:Unbalanced bidding
866:Purchase splitting
840:Change order abuse
498:Sealed first-price
238:Regulatory capture
53:
1810:Economics Letters
800:
799:
578:Cancellation hunt
528:Value of revenues
398:Click-box bidding
300:
299:
229:Misuse of patents
224:Predatory pricing
209:Exclusive dealing
92:Barriers to entry
80:Coercive monopoly
29:Operation Bid Rig
16:(Redirected from
2487:
2480:Bidding strategy
2449:
2448:
2412:
2406:
2405:
2403:
2402:
2391:
2385:
2384:
2382:
2381:
2370:
2364:
2363:
2361:
2360:
2346:
2340:
2339:
2337:
2336:
2321:
2315:
2314:
2312:
2311:
2300:
2294:
2287:
2281:
2274:
2268:
2261:
2255:
2248:
2239:
2238:
2210:
2204:
2203:
2201:
2200:
2185:
2176:
2175:
2173:
2167:. Archived from
2138:
2129:
2123:
2122:
2120:
2119:
2105:
2096:
2095:
2059:
2053:
2052:
2050:
2049:
2035:
2029:
2028:
2026:
2025:
2011:
2005:
2004:
2002:
2001:
1986:
1980:
1979:
1977:
1976:
1962:
1956:
1955:
1919:
1913:
1912:
1910:
1909:
1895:
1889:
1878:
1872:
1861:
1855:
1854:
1848:
1840:
1834:
1833:
1805:
1799:
1798:
1762:
1753:
1752:
1716:
1707:
1706:
1696:
1676:
1670:
1669:
1667:
1666:
1652:
1646:
1645:
1643:
1642:
1628:
1622:
1621:
1619:
1618:
1604:
1598:
1597:
1595:
1594:
1580:
1574:
1573:
1571:
1570:
1556:
1550:
1549:
1547:
1546:
1532:
1526:
1525:
1523:
1522:
1508:
1502:
1501:
1499:
1498:
1484:
1469:
1432:
1411:
1382:
981:Phantom auctions
929:courtesy bidding
923:, also known as
879:Bid manipulation
846:Bidder exclusion
792:
785:
778:
723:Price of anarchy
573:Calor licitantis
325:
302:
292:
285:
278:
183:Product bundling
85:Natural monopoly
37:
21:
2495:
2494:
2490:
2489:
2488:
2486:
2485:
2484:
2455:
2454:
2453:
2452:
2414:
2413:
2409:
2400:
2398:
2393:
2392:
2388:
2379:
2377:
2372:
2371:
2367:
2358:
2356:
2348:
2347:
2343:
2334:
2332:
2323:
2322:
2318:
2309:
2307:
2302:
2301:
2297:
2288:
2284:
2275:
2271:
2262:
2258:
2249:
2242:
2212:
2211:
2207:
2198:
2196:
2187:
2186:
2179:
2171:
2136:
2131:
2130:
2126:
2117:
2115:
2107:
2106:
2099:
2061:
2060:
2056:
2047:
2045:
2037:
2036:
2032:
2023:
2021:
2013:
2012:
2008:
1999:
1997:
1988:
1987:
1983:
1974:
1972:
1964:
1963:
1959:
1921:
1920:
1916:
1907:
1905:
1897:
1896:
1892:
1879:
1875:
1862:
1858:
1846:
1842:
1841:
1837:
1807:
1806:
1802:
1764:
1763:
1756:
1718:
1717:
1710:
1678:
1677:
1673:
1664:
1662:
1660:guide.iacrc.org
1654:
1653:
1649:
1640:
1638:
1636:guide.iacrc.org
1630:
1629:
1625:
1616:
1614:
1612:guide.iacrc.org
1606:
1605:
1601:
1592:
1590:
1588:guide.iacrc.org
1582:
1581:
1577:
1568:
1566:
1564:guide.iacrc.org
1558:
1557:
1553:
1544:
1542:
1540:guide.iacrc.org
1534:
1533:
1529:
1520:
1518:
1516:guide.iacrc.org
1510:
1509:
1505:
1496:
1494:
1492:guide.iacrc.org
1486:
1485:
1481:
1476:
1435:
1414:
1385:
1356:
1353:
1351:Further reading
1340:Organized crime
1311:
1302:
1258:
1253:
1211:
1195:
1186:
1166:
1158:Competition Act
1154:
1142:
1137:
1124:
1078:
1073:
1068:
1060:Vickrey auction
1023:
1009:In the UK, the
1007:
998:
951:
911:
836:
831:
796:
767:
737:
702:
607:
603:Tacit collusion
552:
468:Multi-attribute
296:
192:Refusal to deal
171:Tacit collusion
117:Relevant market
41:Competition law
35:
32:
23:
22:
15:
12:
11:
5:
2493:
2491:
2483:
2482:
2477:
2472:
2467:
2457:
2456:
2451:
2450:
2407:
2386:
2365:
2354:Britannica.com
2341:
2316:
2295:
2282:
2269:
2263:Wedlake Bell,
2256:
2240:
2221:(2): 185–191.
2205:
2177:
2174:on 2020-01-01.
2124:
2097:
2070:(1): 211–227.
2054:
2030:
2006:
1981:
1957:
1914:
1890:
1873:
1856:
1835:
1816:(4): 419–423.
1800:
1773:(4): 451–465.
1754:
1727:(4): 603–623.
1708:
1694:10.3386/w23962
1671:
1647:
1623:
1599:
1575:
1551:
1527:
1503:
1478:
1477:
1475:
1472:
1471:
1470:
1450:10.2307/422247
1433:
1412:
1383:
1352:
1349:
1348:
1347:
1342:
1337:
1332:
1327:
1322:
1317:
1310:
1307:
1301:
1298:
1257:
1254:
1252:
1249:
1210:
1209:United Kingdom
1207:
1194:
1191:
1185:
1182:
1170:European Union
1165:
1162:
1153:
1150:
1141:
1138:
1136:
1133:
1123:
1120:
1077:
1074:
1072:
1069:
1067:
1064:
1055:
1054:
1051:
1048:
1045:
1022:
1019:
1006:
1003:
997:
996:Economic costs
994:
989:
988:
978:
967:
950:
947:
946:
945:
942:Bid delegation
939:
932:
918:
910:
904:
903:
902:
896:
889:
883:
876:
870:
863:
862:
861:
858:
855:
852:
843:
835:
832:
830:
827:
798:
797:
795:
794:
787:
780:
772:
769:
768:
766:
765:
760:
755:
749:
746:
745:
739:
738:
736:
735:
733:Winner's curse
730:
725:
720:
714:
711:
710:
704:
703:
701:
700:
695:
690:
685:
680:
675:
670:
665:
660:
655:
650:
645:
640:
635:
630:
625:
619:
616:
615:
609:
608:
606:
605:
600:
595:
590:
585:
580:
575:
570:
564:
561:
560:
554:
553:
551:
550:
545:
540:
535:
530:
525:
520:
515:
510:
505:
500:
495:
490:
485:
480:
475:
470:
465:
460:
455:
450:
445:
440:
435:
430:
425:
420:
415:
410:
405:
400:
395:
390:
385:
380:
375:
370:
365:
360:
359:
358:
353:
348:
337:
334:
333:
327:
326:
318:
317:
311:
310:
298:
297:
295:
294:
287:
280:
272:
269:
268:
267:
266:
261:
253:
252:
248:
247:
246:
245:
240:
235:
226:
221:
216:
211:
206:
205:
204:
199:
189:
180:
179:
178:
173:
168:
163:
153:
142:
140:Monopolization
134:
133:
127:
126:
125:
124:
122:Merger control
119:
114:
109:
104:
99:
94:
89:
88:
87:
82:
68:
60:
59:
58:Basic concepts
55:
54:
44:
43:
33:
24:
14:
13:
10:
9:
6:
4:
3:
2:
2492:
2481:
2478:
2476:
2473:
2471:
2468:
2466:
2463:
2462:
2460:
2446:
2442:
2438:
2434:
2430:
2426:
2422:
2418:
2411:
2408:
2396:
2390:
2387:
2375:
2369:
2366:
2355:
2351:
2345:
2342:
2330:
2326:
2320:
2317:
2305:
2299:
2296:
2292:
2286:
2283:
2279:
2273:
2270:
2266:
2260:
2257:
2253:
2247:
2245:
2241:
2236:
2232:
2228:
2224:
2220:
2216:
2209:
2206:
2195:
2191:
2184:
2182:
2178:
2170:
2166:
2162:
2158:
2154:
2150:
2146:
2142:
2135:
2128:
2125:
2114:
2113:The Economist
2110:
2104:
2102:
2098:
2093:
2089:
2085:
2081:
2077:
2073:
2069:
2065:
2058:
2055:
2044:
2040:
2034:
2031:
2020:
2017:
2010:
2007:
1996:
1992:
1985:
1982:
1971:
1967:
1961:
1958:
1953:
1949:
1945:
1941:
1937:
1933:
1929:
1925:
1918:
1915:
1904:
1900:
1894:
1891:
1887:
1883:
1877:
1874:
1870:
1866:
1860:
1857:
1852:
1845:
1839:
1836:
1831:
1827:
1823:
1819:
1815:
1811:
1804:
1801:
1796:
1792:
1788:
1784:
1780:
1776:
1772:
1768:
1761:
1759:
1755:
1750:
1746:
1742:
1738:
1734:
1730:
1726:
1722:
1715:
1713:
1709:
1704:
1700:
1695:
1690:
1686:
1682:
1675:
1672:
1661:
1657:
1651:
1648:
1637:
1633:
1627:
1624:
1613:
1609:
1603:
1600:
1589:
1585:
1579:
1576:
1565:
1561:
1555:
1552:
1541:
1537:
1531:
1528:
1517:
1513:
1507:
1504:
1493:
1489:
1483:
1480:
1473:
1467:
1463:
1459:
1455:
1451:
1447:
1443:
1439:
1434:
1430:
1429:10.3386/w4013
1426:
1422:
1418:
1413:
1409:
1405:
1401:
1397:
1393:
1389:
1384:
1380:
1376:
1372:
1368:
1364:
1360:
1355:
1354:
1350:
1346:
1343:
1341:
1338:
1336:
1333:
1331:
1328:
1326:
1323:
1321:
1318:
1316:
1313:
1312:
1308:
1306:
1299:
1297:
1294:
1292:
1288:
1287:Tadahiro Ando
1283:
1280:
1275:
1270:
1266:
1262:
1255:
1250:
1248:
1246:
1242:
1237:
1233:
1229:
1225:
1223:
1218:
1216:
1208:
1206:
1204:
1200:
1192:
1190:
1183:
1181:
1179:
1175:
1171:
1163:
1161:
1159:
1151:
1149:
1147:
1140:United States
1139:
1135:North America
1134:
1132:
1130:
1121:
1119:
1118:
1116:
1111:
1107:
1101:
1099:
1095:
1091:
1087:
1083:
1075:
1071:South America
1070:
1065:
1063:
1061:
1052:
1049:
1046:
1043:
1042:
1041:
1039:
1035:
1030:
1026:
1020:
1018:
1016:
1013:published an
1012:
1004:
1002:
995:
993:
986:
982:
979:
976:
971:
968:
965:
960:
956:
953:
952:
948:
943:
940:
936:
933:
930:
926:
925:cover bidding
922:
919:
916:
913:
912:
909:
905:
900:
897:
893:
890:
887:
884:
880:
877:
874:
871:
867:
864:
859:
856:
853:
850:
849:
847:
844:
841:
838:
837:
833:
828:
826:
824:
823:call for bids
820:
816:
812:
808:
804:
793:
788:
786:
781:
779:
774:
773:
771:
770:
764:
761:
759:
756:
754:
751:
750:
748:
747:
744:
740:
734:
731:
729:
726:
724:
721:
719:
718:Digital goods
716:
715:
713:
712:
709:
705:
699:
696:
694:
691:
689:
686:
684:
681:
679:
676:
674:
671:
669:
666:
664:
661:
659:
656:
654:
651:
649:
646:
644:
641:
639:
636:
634:
631:
629:
626:
624:
621:
620:
618:
617:
614:
610:
604:
601:
599:
596:
594:
591:
589:
586:
584:
581:
579:
576:
574:
571:
569:
566:
565:
563:
562:
559:
555:
549:
546:
544:
541:
539:
536:
534:
531:
529:
526:
524:
521:
519:
518:Uniform price
516:
514:
513:Traffic light
511:
509:
506:
504:
501:
499:
496:
494:
491:
489:
486:
484:
481:
479:
476:
474:
471:
469:
466:
464:
461:
459:
456:
454:
451:
449:
446:
444:
441:
439:
436:
434:
431:
429:
426:
424:
421:
419:
416:
414:
411:
409:
406:
404:
403:Combinatorial
401:
399:
396:
394:
391:
389:
386:
384:
381:
379:
378:Best/not best
376:
374:
373:Barter double
371:
369:
366:
364:
361:
357:
354:
352:
349:
347:
344:
343:
342:
339:
338:
336:
335:
332:
328:
324:
320:
319:
316:
312:
308:
304:
303:
293:
288:
286:
281:
279:
274:
273:
271:
270:
265:
262:
260:
257:
256:
255:
254:
249:
244:
241:
239:
236:
234:
230:
227:
225:
222:
220:
217:
215:
212:
210:
207:
203:
200:
198:
197:Group boycott
195:
194:
193:
190:
188:
184:
181:
177:
174:
172:
169:
167:
164:
161:
157:
154:
152:
149:Formation of
148:
147:
146:
143:
141:
138:
137:
136:
135:
132:
128:
123:
120:
118:
115:
113:
110:
108:
105:
103:
100:
98:
95:
93:
90:
86:
83:
81:
78:
77:
76:
72:
69:
67:
64:
63:
62:
61:
56:
50:
46:
45:
42:
38:
30:
19:
2423:(1): 73–88.
2420:
2416:
2410:
2399:. Retrieved
2389:
2378:. Retrieved
2368:
2357:. Retrieved
2353:
2344:
2333:. Retrieved
2331:. 1995-03-09
2328:
2319:
2308:. Retrieved
2298:
2285:
2272:
2259:
2218:
2214:
2208:
2197:. Retrieved
2193:
2169:the original
2140:
2127:
2116:. Retrieved
2112:
2067:
2063:
2057:
2046:. Retrieved
2043:www.oecd.org
2042:
2033:
2022:. Retrieved
2018:
2009:
1998:. Retrieved
1994:
1984:
1973:. Retrieved
1969:
1960:
1927:
1917:
1906:. Retrieved
1903:www.oecd.org
1902:
1893:
1876:
1868:
1859:
1850:
1838:
1813:
1809:
1803:
1770:
1766:
1724:
1720:
1684:
1674:
1663:. Retrieved
1659:
1650:
1639:. Retrieved
1635:
1626:
1615:. Retrieved
1611:
1602:
1591:. Retrieved
1587:
1578:
1567:. Retrieved
1563:
1554:
1543:. Retrieved
1539:
1530:
1519:. Retrieved
1515:
1506:
1495:. Retrieved
1491:
1482:
1441:
1437:
1420:
1416:
1391:
1387:
1362:
1358:
1345:Price fixing
1303:
1295:
1284:
1278:
1273:
1268:
1264:
1263:
1259:
1238:
1234:
1231:
1227:
1219:
1212:
1196:
1187:
1167:
1155:
1143:
1125:
1113:
1102:
1079:
1056:
1031:
1027:
1024:
1008:
999:
990:
985:toxic assets
980:
969:
958:
955:Phantom bids
954:
941:
935:Bid rotation
934:
928:
924:
920:
914:
898:
891:
885:
878:
872:
865:
845:
839:
815:price fixing
802:
801:
653:Domain names
587:
508:Single-price
408:Common value
243:Rent-seeking
165:
156:Price fixing
107:Market power
2014:Mano, Ana.
1193:Switzerland
1172:(EU) under
1146:Sherman Act
1098:BTG Pactual
1036:(OECD), in
1021:Remediation
1015:open letter
807:procurement
803:Bid rigging
368:Anglo-Dutch
351:Bidding fee
166:Bid rigging
18:Bid-rigging
2459:Categories
2401:2011-12-17
2380:2011-12-17
2359:2011-12-17
2335:2011-12-17
2310:2011-12-17
2199:2018-09-11
2118:2018-09-11
2048:2018-09-11
2024:2018-09-11
2000:2018-09-11
1975:2018-09-11
1908:2018-09-11
1863:Cave, B.,
1665:2018-09-11
1641:2018-09-11
1617:2018-09-11
1593:2018-09-11
1569:2018-09-11
1545:2018-09-11
1521:2018-09-11
1497:2018-09-11
1474:References
1330:Corruption
1198:colluding.
959:shill bids
623:Algorithms
523:Unique bid
478:No-reserve
233:copyrights
112:SSNIP test
2445:153429133
2437:0889-938X
2235:2041-7764
2165:159767037
2157:1556-5068
2092:154382209
2084:1744-1056
1952:167452901
1944:1556-5068
1830:0165-1765
1795:153988096
1787:0889-938X
1749:146369439
1741:1052-150X
1458:0010-4159
1400:0741-6261
1379:0033-3352
1325:Collusion
1285:In 2006,
1094:JP Morgan
1086:Petrobras
1080:Brazil's
1005:Detection
906:Within a
869:allotted.
819:contracts
811:collusion
688:Virginity
543:Walrasian
473:Multiunit
383:Brazilian
363:Amsterdam
145:Collusion
75:oligopoly
2278:Judgment
1869:Lexology
1703:44056837
1309:See also
1245:turnover
1184:Slovakia
1122:Colombia
970:Buy-back
763:Software
753:Ebidding
678:Spectrum
643:Children
613:Contexts
493:Scottish
463:Knapsack
458:Japanese
388:Calcutta
315:Auctions
307:a series
305:Part of
71:Monopoly
1853:. 2009.
1408:2555995
1315:Bribery
1117:(CADE).
964:Sniping
882:choice.
658:Flowers
648:Players
638:Charity
598:Suicide
593:Sniping
588:Rigging
568:Shading
558:Bidding
533:Vickrey
488:Reverse
438:Forward
433:English
346:Chinese
341:All-pay
151:cartels
2443:
2435:
2233:
2163:
2155:
2090:
2082:
1950:
1942:
1828:
1793:
1785:
1747:
1739:
1701:
1466:422247
1464:
1456:
1406:
1398:
1377:
1320:Cartel
1203:Aargau
1164:Europe
1152:Canada
1076:Brazil
908:cartel
743:Online
708:Theory
683:Stamps
673:Slaves
548:Yankee
443:French
423:Double
393:Candle
356:Dollar
2441:S2CID
2172:(PDF)
2161:S2CID
2137:(PDF)
2088:S2CID
1948:S2CID
1847:(PDF)
1791:S2CID
1745:S2CID
1699:S2CID
1462:JSTOR
1404:JSTOR
1300:Korea
1279:dango
1274:dango
1269:Dango
1265:Dango
1256:Japan
829:Forms
698:Wives
663:Loans
628:Autos
428:Dutch
331:Types
187:tying
160:cases
2433:ISSN
2231:ISSN
2153:ISSN
2080:ISSN
1940:ISSN
1851:OECD
1826:ISSN
1783:ISSN
1737:ISSN
1454:ISSN
1396:ISSN
1375:ISSN
1251:Asia
1178:RAND
1129:OECD
1096:and
1032:The
693:Wine
668:Scam
583:Jump
483:Rank
231:and
185:and
73:and
2425:doi
2223:doi
2145:doi
2072:doi
2019:U.S
1995:U.S
1932:doi
1818:doi
1775:doi
1729:doi
1689:doi
1446:doi
1425:doi
1421:101
1367:doi
957:or
927:or
633:Art
2461::
2439:.
2431:.
2421:21
2419:.
2352:.
2327:.
2243:^
2229:.
2217:.
2192:.
2180:^
2159:.
2151:.
2143:.
2139:.
2111:.
2100:^
2086:.
2078:.
2066:.
2041:.
1993:.
1968:.
1946:.
1938:.
1930:.
1926:.
1901:.
1867:,
1849:.
1824:.
1814:42
1812:.
1789:.
1781:.
1771:19
1769:.
1757:^
1743:.
1735:.
1725:14
1723:.
1711:^
1697:.
1683:.
1658:.
1634:.
1610:.
1586:.
1562:.
1538:.
1514:.
1490:.
1460:.
1452:.
1442:25
1440:.
1419:.
1402:.
1392:26
1390:.
1373:.
1363:67
1361:.
1217:.
1160:.
309:on
2447:.
2427::
2404:.
2383:.
2362:.
2338:.
2313:.
2237:.
2225::
2219:4
2202:.
2147::
2121:.
2094:.
2074::
2068:8
2051:.
2027:.
2003:.
1978:.
1954:.
1934::
1911:.
1832:.
1820::
1797:.
1777::
1751:.
1731::
1705:.
1691::
1668:.
1644:.
1620:.
1596:.
1572:.
1548:.
1524:.
1500:.
1468:.
1448::
1431:.
1427::
1410:.
1381:.
1369::
977:.
791:e
784:t
777:v
291:e
284:t
277:v
162:)
158:(
31:.
20:)
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.