Bid rigging, a practice analogous to price fixing, involves auction participants forming a ring whose members agree not to bid against each other,
either by avoiding the auction or by placing phony (phantom) bids.
updated: 12 August 2005
HOW TO CITE THIS ENTRY
- To learn more:
- See news articles on auctions.
- Try a winner's curse applet on the applets page.
- Read about auction experiments at e-Economics.net.
- Learn about auctions by reading lecture notes.