Klemperer, Paul - EconWPA - 2005
The existence of a ‘bidding market’ is commonly cited as a reason to tolerate the creation or maintenance of highly … ‘intervention against pernicious market power is unnecessary’, in markets characterized by auctions or bidding processes …. Furthermore we argue that the term ‘bidding market’ as it is widely used in antitrust is unhelpful or misleading. Auctions and …