The Economics of Collusion
The Economics of Collusion

Author: Robert C. Marshall

Publisher: MIT Press

Published: 2012-04-27

Total Pages: 315

ISBN-13: 0262300737

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An examination of collusive behavior: what it is, why it is profitable, how it is implemented, and how it might be detected. Explicit collusion is an agreement among competitors to suppress rivalry that relies on interfirm communication and/or transfers. Rivalry between competitors erodes profits; the suppression of rivalry through collusion is one avenue by which firms can enhance profits. Many cartels and bidding rings function for years in a stable and peaceful manner despite the illegality of their agreements and incentives for deviation by their members. In The Economics of Collusion, Robert Marshall and Leslie Marx offer an examination of collusive behavior: what it is, why it is profitable, how it is implemented, and how it might be detected. Marshall and Marx, who have studied collusion extensively for two decades, begin with three narratives: the organization and implementation of a cartel, the organization and implementation of a bidding ring, and a parent company's efforts to detect collusion by its divisions. These accounts—fictitious, but rooted in the inner workings and details from actual cases—offer a novel and engaging way for the reader to understand the basics of collusive behavior. The narratives are followed by detailed economic analyses of cartels, bidding rings, and detection. The narratives offer an engaging entrée to the more rigorous economic discussion that follows. The book is accessible to any reader who understands basic economic reasoning. Mathematical material is flagged with asterisks.

The Economics of Collusion
The Economics of Collusion

Author: Robert C. Marshall

Publisher: MIT Press

Published: 2014-01-10

Total Pages: 315

ISBN-13: 0262525941

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An examination of collusive behavior: what it is, why it is profitable, how it is implemented, and how it might be detected. Explicit collusion is an agreement among competitors to suppress rivalry that relies on interfirm communication and/or transfers. Rivalry between competitors erodes profits; the suppression of rivalry through collusion is one avenue by which firms can enhance profits. Many cartels and bidding rings function for years in a stable and peaceful manner despite the illegality of their agreements and incentives for deviation by their members. In The Economics of Collusion, Robert Marshall and Leslie Marx offer an examination of collusive behavior: what it is, why it is profitable, how it is implemented, and how it might be detected. Marshall and Marx, who have studied collusion extensively for two decades, begin with three narratives: the organization and implementation of a cartel, the organization and implementation of a bidding ring, and a parent company's efforts to detect collusion by its divisions. These accounts—fictitious, but rooted in the inner workings and details from actual cases—offer a novel and engaging way for the reader to understand the basics of collusive behavior. The narratives are followed by detailed economic analyses of cartels, bidding rings, and detection. The narratives offer an engaging entrée to the more rigorous economic discussion that follows. The book is accessible to any reader who understands basic economic reasoning. Mathematical material is flagged with asterisks.

Rings in Auctions
Rings in Auctions

Author: Angelo Artale

Publisher: Springer Science & Business Media

Published: 2012-12-06

Total Pages: 176

ISBN-13: 3642591582

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In auctions, bidders compete with one another in their attempt to 1 purchase the goods that are up for sale • But buyer competition may be reduced or disappear when a ring of colluding bidders is present. The purpose of the participants to a ring is to eliminate buyer competition and to realize a gain over vendors. When all participants are members of the ring, this is done by purchasing the item at the reserve price and splitting the spoils (the difference between the item market value and the reserve price) among the participants. "The term ring apparently derives from the fact that in a settlement sale following the auction, members of the collusive arrangement form a circle or ring to facilitate observation of their trading behavior by the ring leader" (Cassady jr. (1967)). If the coalition members knew other players' values, the problem faced by the ring might be easily solved: the player with the highest value should submit a serious bid and the other members, on the contrary, only phony bids. However, ring participants do not usually know the values of other members. Therefore, ring members have to find out some mechanism which selects the player who has to bid seriously and, eventually, esta blish side payments paid to each of the losers2.

Handbook of Procurement
Handbook of Procurement

Author: Nicola Dimitri

Publisher: Cambridge University Press

Published: 2006-09-28

Total Pages: 529

ISBN-13: 1139459252

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How can organizations ensure that they can get best value for money in their procurement decisions? How can they stimulate innovations from their dedicated suppliers? With contributions from leading academics and professionals, this 2006 handbook offers expert guidance on the fundamental aspects of successful procurement design and management in firms, public administrations, and international institutions. The issues addressed include the management of dynamic procurement; the handling of procurement risk; the architecture of purchasing systems; the structure of incentives in procurement contracts; methods to increase suppliers' participation in procurement contests and e-procurement platforms; how to minimize the risk of collusion and of corruption; pricing and reputation mechanisms in e-procurement platforms; and how procurement can enhance innovation. Inspired by frontier research, it provides practical recommendations to managers, engineers and lawyers engaged in private and public procurement design.

Construction Technology & Practices
Construction Technology & Practices

Author: Sagar Sarangi

Publisher: Educreation Publishing

Published:

Total Pages: 220

ISBN-13:

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This book provides comprehensive coverage of all the construction activities starting from the beginning to the finishing of a project. It also covers the latest construction technology, such as concrete technology, mechanized construction equipment's. The book contents a detailed description of various topics such as earth work excavation, transportation, finishing work. The theory is presented in a simple and systematic process with attractive images. It also touches on basic ideas about the contracts and accounting, as it is shadow of a civil engineer/ site engineer/ contractors etc. The extensive coverage of all the topics makes this book is helpful for the students of civil engineering/mining students & professionals

Internet Marketplaces
Internet Marketplaces

Author: Christina Hultmark

Publisher: Oxford University Press, USA

Published: 2002

Total Pages: 234

ISBN-13: 9780199254293

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This title provides an analysis of the business models that are being employed because of the increased use of online auctions and exchnages for business transactions, their legal structures, and the extent to which further work is still required to fill in the legal infrastructure.

Auctions and Auctioneering
Auctions and Auctioneering

Author: Ralph Cassady Jr.

Publisher: Univ of California Press

Published: 2023-04-28

Total Pages: 346

ISBN-13: 0520322258

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This title is part of UC Press's Voices Revived program, which commemorates University of California Press’s mission to seek out and cultivate the brightest minds and give them voice, reach, and impact. Drawing on a backlist dating to 1893, Voices Revived makes high-quality, peer-reviewed scholarship accessible once again using print-on-demand technology. This title was originally published in 1967.