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Erscheinungsjahr: 
2009
Schriftenreihe/Nr.: 
Tinbergen Institute Discussion Paper No. 09-085/1
Verlag: 
Tinbergen Institute, Amsterdam and Rotterdam
Zusammenfassung: 
We experimentally examine the effectiveness of antitrust policies against bidding rings in theEnglish auction (EN) and the first-price sealed-bid auction (FP). We consider both traditionalantitrust policy (without a leniency program) and modern antitrust policy (with a leniencyprogram). In EN, neither antitrust policy has a significant effect on cartel deterrence, cartelstability, cartel recidivism, and winning bids. In FP, traditional antitrust policy deters cartelformation, destabilizes cartels, reduces the probability that a cartel re-establishes, and reduces theaverage winning bid. In contrast, while a leniency program has no additional effect on cartelformation or cartel recidivism, it makes cartels more stable and reduces the winning cartel bid.
Schlagwörter: 
Antitrust policy
Leniency Programs
English Auction
First-Price Sealed-Bid Auction
Laboratory Experiments
JEL: 
C92
D44
L41
Dokumentart: 
Working Paper
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