Bidding Rings and the Winner's Curse: The Case of Federal Offshore Oil and Gas Lease Auctions
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This paper extends the theory of legal cartels to affiliated private value and common value environments, and applies the theory to explain joint bidding patterns in U.S. federal government offshore oil and gas lease auctions. We show that efficient collusion is always possible in private value
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美国国家经济研究局创建时间：
2003-07-01
