Identities in Damage Estimation When the Number of Bidders Is Affected by Collusion

• 영문명: Identities in Damage Estimation When the Number of Bidders Is Affected by Collusion
• 발행기관: 한국계량경제학회
• 저자명: Chirok Han Jae Nahm
• 간행물 정보: 『JOURNAL OF ECONOMIC THEORY AND ECONOMETRICS』Vol.35 No.2, 1~10쪽, 전체 10쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 2024.06.30

국문 초록

In typical practices of estimating cartel damages, an outcome variable such as winning bid price is regressed on a cartel dummy variable and multiple control variables. When the number of bidders in a bid is influenced by collusion, two approaches can be employed. One approach is to exclude the bidder number variable in the regression analysis. The other approach is to use predicted numbers of bidders for the collusive bids obtained, based on the observed relationship in the non-collusive bids. We show that these two approaches are equivalent in estimating the effects of collusion.

목차

1. INTRODUCTION

2. IDENTITIES IN DAMAGE ESTIMATION

3. CONCLUDING REMARKS

REFERENCES

키워드

Damage estimation cartel collusion bid rigging bidder number dummy variable approach forecasting approach