Zhang, Wenzhang - In: Theoretical economics : TE ; an open access journal in … 17 (2022) 4, pp. 1847-1895
In the context of repeated first-price auctions, we explore how a bid-rigging cartel can simultaneously overcome the difficulty of soliciting truthful private information about valuations and the difficulty of enforcing its internal mechanism. Focusing on the class of trigger-strategy collusive...