Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
5062177 | Economics Letters | 2008 | 4 Pages |
Abstract
Bidders can bribe the auctioneer before they bid, with the auctioneer lowering the winner's bid if the winner paid the bribe. In equilibrium bidders employ a cutoff strategy and corruption affects neither efficiency nor the bidders' expected payoffs.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Sevket Alper Koc, William S. Neilson,