Author: Nomi Prins
Publisher: Bold Type Books
ISBN: 1568585632
Category : Business & Economics
Languages : en
Pages : 456
Book Description
In this searing exposéformer Wall Street insider Nomi Prins shows how the 2007-2008 financial crisis turbo-boosted the influence of central bankers and triggered a massive shift in the world order. Central banks and international institutions like the IMF have overstepped their traditional mandates by directing the flow of epic sums of fabricated money without any checks or balances. Meanwhile, the open door between private and central banking has ensured endless opportunities for market manipulation and asset bubbles -- with government support. Through on-the-ground reporting, Prins reveals how five regions and their central banks reshaped economics and geopolitics. She discloses how Mexico navigated its relationship with the US while striving for independence and how Brazil led the BRICS countries to challenge the US dollar's hegemony. She explains how China's retaliation against the Fed's supremacy is aiding its ongoing ascent as a global superpower and how Japan is negotiating the power shift from the West to the East. And she illustrates how the European response to the financial crisis fueled instability that manifests itself in everything from rising populism to the shocking Brexit vote. Packed with tantalizing details about the elite players orchestrating the world economy -- from Janet Yellen and Mario Draghi to Ben Bernanke and Christine Lagarde -- Collusion takes the reader inside the most discreet conversations at exclusive retreats like Jackson Hole and Davos. A work of meticulous reporting and bracing analysis, Collusion will change the way we understand the new world of international finance.
Collusion
Author: Nomi Prins
Publisher: Bold Type Books
ISBN: 1568585632
Category : Business & Economics
Languages : en
Pages : 456
Book Description
In this searing exposéformer Wall Street insider Nomi Prins shows how the 2007-2008 financial crisis turbo-boosted the influence of central bankers and triggered a massive shift in the world order. Central banks and international institutions like the IMF have overstepped their traditional mandates by directing the flow of epic sums of fabricated money without any checks or balances. Meanwhile, the open door between private and central banking has ensured endless opportunities for market manipulation and asset bubbles -- with government support. Through on-the-ground reporting, Prins reveals how five regions and their central banks reshaped economics and geopolitics. She discloses how Mexico navigated its relationship with the US while striving for independence and how Brazil led the BRICS countries to challenge the US dollar's hegemony. She explains how China's retaliation against the Fed's supremacy is aiding its ongoing ascent as a global superpower and how Japan is negotiating the power shift from the West to the East. And she illustrates how the European response to the financial crisis fueled instability that manifests itself in everything from rising populism to the shocking Brexit vote. Packed with tantalizing details about the elite players orchestrating the world economy -- from Janet Yellen and Mario Draghi to Ben Bernanke and Christine Lagarde -- Collusion takes the reader inside the most discreet conversations at exclusive retreats like Jackson Hole and Davos. A work of meticulous reporting and bracing analysis, Collusion will change the way we understand the new world of international finance.
Publisher: Bold Type Books
ISBN: 1568585632
Category : Business & Economics
Languages : en
Pages : 456
Book Description
In this searing exposéformer Wall Street insider Nomi Prins shows how the 2007-2008 financial crisis turbo-boosted the influence of central bankers and triggered a massive shift in the world order. Central banks and international institutions like the IMF have overstepped their traditional mandates by directing the flow of epic sums of fabricated money without any checks or balances. Meanwhile, the open door between private and central banking has ensured endless opportunities for market manipulation and asset bubbles -- with government support. Through on-the-ground reporting, Prins reveals how five regions and their central banks reshaped economics and geopolitics. She discloses how Mexico navigated its relationship with the US while striving for independence and how Brazil led the BRICS countries to challenge the US dollar's hegemony. She explains how China's retaliation against the Fed's supremacy is aiding its ongoing ascent as a global superpower and how Japan is negotiating the power shift from the West to the East. And she illustrates how the European response to the financial crisis fueled instability that manifests itself in everything from rising populism to the shocking Brexit vote. Packed with tantalizing details about the elite players orchestrating the world economy -- from Janet Yellen and Mario Draghi to Ben Bernanke and Christine Lagarde -- Collusion takes the reader inside the most discreet conversations at exclusive retreats like Jackson Hole and Davos. A work of meticulous reporting and bracing analysis, Collusion will change the way we understand the new world of international finance.
Collusion
Author: Luke Harding
Publisher: Vintage
ISBN: 0525562516
Category : Political Science
Languages : en
Pages : 370
Book Description
#1 NEW YORK TIMES BESTSELLER • An explosive exposé that lays out the story behind the Steele Dossier, including Russia’s decades-in-the-making political game to upend American democracy and the Trump administration’s ties to Moscow. “Harding…presents a powerful case for Russian interference, and Trump campaign collusion, by collecting years of reporting on Trump’s connections to Russia and putting it all together in a coherent narrative.” —The Nation December 2016. Luke Harding, the Guardian reporter and former Moscow bureau chief, quietly meets former MI6 officer Christopher Steele in a London pub to discuss President-elect Donald Trump’s Russia connections. A month later, Steele’s now-famous dossier sparks what may be the biggest scandal of the modern era. The names of the Americans involved are well-known—Paul Manafort, Michael Flynn, Jared Kushner, George Papadopoulos, Carter Page—but here Harding also shines a light on powerful Russian figures like Aras Agalarov, Natalia Veselnitskaya, and Sergey Kislyak, whose motivations and instructions may have been coming from the highest echelons of the Kremlin. Drawing on new material and his expert understanding of Moscow and its players, Harding takes the reader through every bizarre and disquieting detail of the “Trump-Russia” story—an event so huge it involves international espionage, off-shore banks, sketchy real estate deals, the Miss Universe pageant, mobsters, money laundering, poisoned dissidents, computer hacking, and the most shocking election in American history.
Publisher: Vintage
ISBN: 0525562516
Category : Political Science
Languages : en
Pages : 370
Book Description
#1 NEW YORK TIMES BESTSELLER • An explosive exposé that lays out the story behind the Steele Dossier, including Russia’s decades-in-the-making political game to upend American democracy and the Trump administration’s ties to Moscow. “Harding…presents a powerful case for Russian interference, and Trump campaign collusion, by collecting years of reporting on Trump’s connections to Russia and putting it all together in a coherent narrative.” —The Nation December 2016. Luke Harding, the Guardian reporter and former Moscow bureau chief, quietly meets former MI6 officer Christopher Steele in a London pub to discuss President-elect Donald Trump’s Russia connections. A month later, Steele’s now-famous dossier sparks what may be the biggest scandal of the modern era. The names of the Americans involved are well-known—Paul Manafort, Michael Flynn, Jared Kushner, George Papadopoulos, Carter Page—but here Harding also shines a light on powerful Russian figures like Aras Agalarov, Natalia Veselnitskaya, and Sergey Kislyak, whose motivations and instructions may have been coming from the highest echelons of the Kremlin. Drawing on new material and his expert understanding of Moscow and its players, Harding takes the reader through every bizarre and disquieting detail of the “Trump-Russia” story—an event so huge it involves international espionage, off-shore banks, sketchy real estate deals, the Miss Universe pageant, mobsters, money laundering, poisoned dissidents, computer hacking, and the most shocking election in American history.
Collusion
Author: Stuart Neville
Publisher: Soho Press
ISBN: 1569478562
Category : Fiction
Languages : en
Pages : 346
Book Description
A merciless assassin stalks Belfast and Detective Inspector Jack Lennon has been assigned to the case. As Lennon unravels a far-reaching conspiracy involving collusion among Loyalists, IRA members, and law enforcement, he discovers that his estranged former lover and their daughter are in the killer's cross-hairs. To catch the assassin and save the only family he has, Lennon blurs the line between friend and enemy by teaming up with an enigmatic killer named Fegan.
Publisher: Soho Press
ISBN: 1569478562
Category : Fiction
Languages : en
Pages : 346
Book Description
A merciless assassin stalks Belfast and Detective Inspector Jack Lennon has been assigned to the case. As Lennon unravels a far-reaching conspiracy involving collusion among Loyalists, IRA members, and law enforcement, he discovers that his estranged former lover and their daughter are in the killer's cross-hairs. To catch the assassin and save the only family he has, Lennon blurs the line between friend and enemy by teaming up with an enigmatic killer named Fegan.
The Economics of Collusion
Author: Robert C. Marshall
Publisher: MIT Press
ISBN: 0262300737
Category : Business & Economics
Languages : en
Pages : 315
Book Description
An examination of collusive behavior: what it is, why it is profitable, how it is implemented, and how it might be detected. Explicit collusion is an agreement among competitors to suppress rivalry that relies on interfirm communication and/or transfers. Rivalry between competitors erodes profits; the suppression of rivalry through collusion is one avenue by which firms can enhance profits. Many cartels and bidding rings function for years in a stable and peaceful manner despite the illegality of their agreements and incentives for deviation by their members. In The Economics of Collusion, Robert Marshall and Leslie Marx offer an examination of collusive behavior: what it is, why it is profitable, how it is implemented, and how it might be detected. Marshall and Marx, who have studied collusion extensively for two decades, begin with three narratives: the organization and implementation of a cartel, the organization and implementation of a bidding ring, and a parent company's efforts to detect collusion by its divisions. These accounts—fictitious, but rooted in the inner workings and details from actual cases—offer a novel and engaging way for the reader to understand the basics of collusive behavior. The narratives are followed by detailed economic analyses of cartels, bidding rings, and detection. The narratives offer an engaging entrée to the more rigorous economic discussion that follows. The book is accessible to any reader who understands basic economic reasoning. Mathematical material is flagged with asterisks.
Publisher: MIT Press
ISBN: 0262300737
Category : Business & Economics
Languages : en
Pages : 315
Book Description
An examination of collusive behavior: what it is, why it is profitable, how it is implemented, and how it might be detected. Explicit collusion is an agreement among competitors to suppress rivalry that relies on interfirm communication and/or transfers. Rivalry between competitors erodes profits; the suppression of rivalry through collusion is one avenue by which firms can enhance profits. Many cartels and bidding rings function for years in a stable and peaceful manner despite the illegality of their agreements and incentives for deviation by their members. In The Economics of Collusion, Robert Marshall and Leslie Marx offer an examination of collusive behavior: what it is, why it is profitable, how it is implemented, and how it might be detected. Marshall and Marx, who have studied collusion extensively for two decades, begin with three narratives: the organization and implementation of a cartel, the organization and implementation of a bidding ring, and a parent company's efforts to detect collusion by its divisions. These accounts—fictitious, but rooted in the inner workings and details from actual cases—offer a novel and engaging way for the reader to understand the basics of collusive behavior. The narratives are followed by detailed economic analyses of cartels, bidding rings, and detection. The narratives offer an engaging entrée to the more rigorous economic discussion that follows. The book is accessible to any reader who understands basic economic reasoning. Mathematical material is flagged with asterisks.
Proof of Collusion
Author: Seth Abramson
Publisher: Simon and Schuster
ISBN: 1982116102
Category : Political Science
Languages : en
Pages : 448
Book Description
For the first time, the full, explosive record of the unthinkable: how a US president compromised American foreign policy in exchange for the promise of future business and covert election assistance. Looking back at this moment in history, historians will ask if Americans knew they were living through the first case of criminal conspiracy between an American presidential candidate turned commander in chief and a geopolitical enemy. The answer might be: it was hard to see the whole picture. The stories coming in from around the globe have often seemed fantastical: clandestine meetings in foreign capitals, secret recordings in a Moscow hotel, Kremlin agents infiltrating the Trump inner circle... Seth Abramson has tracked every one of these far-flung reports and now in, Proof of Collusion, he finally gives us a record of the unthinkable—a president compromising American foreign policy in exchange for the promise of future business and covert election assistance. The attorney, professor, and former criminal investigator has used his exacting legal mind and forensic acumen to compile, organize, and analyze every piece of the Trump-Russia story. His conclusion is clear: the case for collusion is staring us in the face. Drawing from American and European news outlets, he takes readers through the Trump-Russia scandal chronologically, putting the developments in context and showing how they connect. His extraordinary march through all the public evidence includes: —How Trump worked for thirty years to expand his real estate empire into Russia even as he was rescued from bankruptcy by Putin’s oligarchs and Kremlin agents. —How Russian intelligence gathered compromising material on him over multiple trips. —How Trump recruited Russian allies and business partners while running for president. —How he surrounded himself with advisers who engaged in clandestine negotiations with Russia. —How Trump aides and family members held secret meetings with foreign agents and lied about them. By pulling every last thread of this complicated story together, Abramson argues that—even in the absence of a Congressional investigation or a report from Special Counsel Mueller—the public record already indicates a quid pro quo between Trump and the Kremlin. The most extraordinary part of the case for collusion is that so much of it unfolded in plain sight.
Publisher: Simon and Schuster
ISBN: 1982116102
Category : Political Science
Languages : en
Pages : 448
Book Description
For the first time, the full, explosive record of the unthinkable: how a US president compromised American foreign policy in exchange for the promise of future business and covert election assistance. Looking back at this moment in history, historians will ask if Americans knew they were living through the first case of criminal conspiracy between an American presidential candidate turned commander in chief and a geopolitical enemy. The answer might be: it was hard to see the whole picture. The stories coming in from around the globe have often seemed fantastical: clandestine meetings in foreign capitals, secret recordings in a Moscow hotel, Kremlin agents infiltrating the Trump inner circle... Seth Abramson has tracked every one of these far-flung reports and now in, Proof of Collusion, he finally gives us a record of the unthinkable—a president compromising American foreign policy in exchange for the promise of future business and covert election assistance. The attorney, professor, and former criminal investigator has used his exacting legal mind and forensic acumen to compile, organize, and analyze every piece of the Trump-Russia story. His conclusion is clear: the case for collusion is staring us in the face. Drawing from American and European news outlets, he takes readers through the Trump-Russia scandal chronologically, putting the developments in context and showing how they connect. His extraordinary march through all the public evidence includes: —How Trump worked for thirty years to expand his real estate empire into Russia even as he was rescued from bankruptcy by Putin’s oligarchs and Kremlin agents. —How Russian intelligence gathered compromising material on him over multiple trips. —How Trump recruited Russian allies and business partners while running for president. —How he surrounded himself with advisers who engaged in clandestine negotiations with Russia. —How Trump aides and family members held secret meetings with foreign agents and lied about them. By pulling every last thread of this complicated story together, Abramson argues that—even in the absence of a Congressional investigation or a report from Special Counsel Mueller—the public record already indicates a quid pro quo between Trump and the Kremlin. The most extraordinary part of the case for collusion is that so much of it unfolded in plain sight.
Lethal Allies: British Collusion in Ireland
Author: Anne Cadwallader
Publisher: Mercier Press Ltd
ISBN: 1781172374
Category : History
Languages : en
Pages : 500
Book Description
'. . . a well-written piece of investigative journalism that asks some deeply troubling questions . . .' - NY Journal of Books 'Cadwallader has written a brave, powerful and forensically detailed book about a shameful and denied aspect of our conflict's history.' - The Irish Times. 'Anne Cadwallader's remarkable book focusses on collusion in the British security forces (the RUC, the British Army, and the UDR) in the mid-Ulster "Murder Triangle". Over 120 people were killed by a loyalist gang operating in mid-Ulster and Cadwallader has created a convincing argument that collusion with certain elements of the security forces was crucial in the committing of these crimes and the lack of proper investigation into many of these crimes' - The Dublin Reader Farmers, shopkeepers, publicans and businessmen were slaughtered in a bloody decade of bombings and shootings in the counties of Tyrone and Armagh in the 1970s. Four families each lost three relatives; in other cases, children were left orphaned after both parents were murdered. For years, there were claims that loyalists were helped and guided by the RUC and Ulster Defence Regiment members. But, until now, there was no proof. Drawing on 15 years of research, and using forensic and ballistic information never before published, this book includes official documents showing that the highest in the land knew of the collusion and names those whose fingers were on the trigger and who detonated the bombs. It draws on previously unpublished reports written by the PSNI's own Historical Enquiries Team. It also includes heartbreaking interviews with the bereaved families whose lives were shattered by this cold and calculated campaign.
Publisher: Mercier Press Ltd
ISBN: 1781172374
Category : History
Languages : en
Pages : 500
Book Description
'. . . a well-written piece of investigative journalism that asks some deeply troubling questions . . .' - NY Journal of Books 'Cadwallader has written a brave, powerful and forensically detailed book about a shameful and denied aspect of our conflict's history.' - The Irish Times. 'Anne Cadwallader's remarkable book focusses on collusion in the British security forces (the RUC, the British Army, and the UDR) in the mid-Ulster "Murder Triangle". Over 120 people were killed by a loyalist gang operating in mid-Ulster and Cadwallader has created a convincing argument that collusion with certain elements of the security forces was crucial in the committing of these crimes and the lack of proper investigation into many of these crimes' - The Dublin Reader Farmers, shopkeepers, publicans and businessmen were slaughtered in a bloody decade of bombings and shootings in the counties of Tyrone and Armagh in the 1970s. Four families each lost three relatives; in other cases, children were left orphaned after both parents were murdered. For years, there were claims that loyalists were helped and guided by the RUC and Ulster Defence Regiment members. But, until now, there was no proof. Drawing on 15 years of research, and using forensic and ballistic information never before published, this book includes official documents showing that the highest in the land knew of the collusion and names those whose fingers were on the trigger and who detonated the bombs. It draws on previously unpublished reports written by the PSNI's own Historical Enquiries Team. It also includes heartbreaking interviews with the bereaved families whose lives were shattered by this cold and calculated campaign.
Collusion
Author: Fouad Sabry
Publisher: One Billion Knowledgeable
ISBN:
Category : Business & Economics
Languages : en
Pages : 358
Book Description
What is Collusion The term "collusion" refers to a dishonest agreement or covert collaboration between two or more parties with the intention of restricting open competition by deceiving, misleading, or committing fraud against certain individuals or organizations. Not all instances of collusion are regarded to be criminal. By way of example, by engaging in fraudulent activity or acquiring an unfair edge in the market, it is possible to accomplish goals that are prohibited by law. An agreement between companies or individuals to split a market, establish prices, restrict production, or restrict opportunities is referred to as a market division.It may involve activities such as "unions, wage fixing, kickbacks, or misrepresenting the independence of the relationship between the colluding parties" . In the eyes of the law, any and all actions caused by cooperation are regarded as invalid. How you will benefit (I) Insights, and validations about the following topics: Chapter 1: Collusion Chapter 2: Duopoly Chapter 3: Monopoly Chapter 4: Oligopoly Chapter 5: Perfect competition Chapter 6: Cartel Chapter 7: Price fixing Chapter 8: Cross elasticity of demand Chapter 9: Anti-competitive practices Chapter 10: Barriers to entry Chapter 11: Decartelization Chapter 12: Market power Chapter 13: Non-price competition Chapter 14: Bertrand competition Chapter 15: Cournot competition Chapter 16: Market structure Chapter 17: Market concentration Chapter 18: Competition (economics) Chapter 19: Tacit collusion Chapter 20: Economic law Chapter 21: Profit (economics) (II) Answering the public top questions about collusion. (III) Real world examples for the usage of collusion in many fields. Who this book is for Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Collusion.
Publisher: One Billion Knowledgeable
ISBN:
Category : Business & Economics
Languages : en
Pages : 358
Book Description
What is Collusion The term "collusion" refers to a dishonest agreement or covert collaboration between two or more parties with the intention of restricting open competition by deceiving, misleading, or committing fraud against certain individuals or organizations. Not all instances of collusion are regarded to be criminal. By way of example, by engaging in fraudulent activity or acquiring an unfair edge in the market, it is possible to accomplish goals that are prohibited by law. An agreement between companies or individuals to split a market, establish prices, restrict production, or restrict opportunities is referred to as a market division.It may involve activities such as "unions, wage fixing, kickbacks, or misrepresenting the independence of the relationship between the colluding parties" . In the eyes of the law, any and all actions caused by cooperation are regarded as invalid. How you will benefit (I) Insights, and validations about the following topics: Chapter 1: Collusion Chapter 2: Duopoly Chapter 3: Monopoly Chapter 4: Oligopoly Chapter 5: Perfect competition Chapter 6: Cartel Chapter 7: Price fixing Chapter 8: Cross elasticity of demand Chapter 9: Anti-competitive practices Chapter 10: Barriers to entry Chapter 11: Decartelization Chapter 12: Market power Chapter 13: Non-price competition Chapter 14: Bertrand competition Chapter 15: Cournot competition Chapter 16: Market structure Chapter 17: Market concentration Chapter 18: Competition (economics) Chapter 19: Tacit collusion Chapter 20: Economic law Chapter 21: Profit (economics) (II) Answering the public top questions about collusion. (III) Real world examples for the usage of collusion in many fields. Who this book is for Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Collusion.
Competition, Collusion, and Game Theory
Author: Lester G Telser
Publisher: Routledge
ISBN: 1351527169
Category : Business & Economics
Languages : en
Pages : 455
Book Description
This original, quantitatively oriented analysis applies the theory of the core to define competition in order to describe and deduce the consequences of competitive and non-competitive behavior. Written by one of the world's leading mathematical economists, the book is mathematically rigorous. No other book is currently available giving a game theoretic analysis of competition with basic mathematical tools.Economic theorists have been working on a new and fundamental approach to the theory of competition and market structure, an approach inspired by appreciation of the earlier work of Edgeworth and Bohm-Bawerk and making use of the new tools of the theory of games as developed by von Neumann and Morgenstern. This new approach bases itself on the analysis of competitive behavior and its implications for the characteristics of market equilibrium rather than on assumptions about the characteristics of competitive and monopolistic markets. Its central concept is ""the theory of the core of the market,"" and it is concerned, with the conditions under which markets will or will not achieve the characteristics of uniform prices and welfare optimality.Telser provides a number of insights into the symptoms of competition, when and how competition is bought into play, the mechanisms of competition and collusion, the results of competition and collusion, and the results of competition and collusion for the economy and for the general public. Many misconceptions about the nature of a competitive equilibrium are dispelled. The book is not only a mathematical analysis of core price theory but also contains extensive empirical research in private industry. These empirical findings, from research pursued over several years, enhance understanding of how competition works and of the determinants of the returns to manufacturing industries.
Publisher: Routledge
ISBN: 1351527169
Category : Business & Economics
Languages : en
Pages : 455
Book Description
This original, quantitatively oriented analysis applies the theory of the core to define competition in order to describe and deduce the consequences of competitive and non-competitive behavior. Written by one of the world's leading mathematical economists, the book is mathematically rigorous. No other book is currently available giving a game theoretic analysis of competition with basic mathematical tools.Economic theorists have been working on a new and fundamental approach to the theory of competition and market structure, an approach inspired by appreciation of the earlier work of Edgeworth and Bohm-Bawerk and making use of the new tools of the theory of games as developed by von Neumann and Morgenstern. This new approach bases itself on the analysis of competitive behavior and its implications for the characteristics of market equilibrium rather than on assumptions about the characteristics of competitive and monopolistic markets. Its central concept is ""the theory of the core of the market,"" and it is concerned, with the conditions under which markets will or will not achieve the characteristics of uniform prices and welfare optimality.Telser provides a number of insights into the symptoms of competition, when and how competition is bought into play, the mechanisms of competition and collusion, the results of competition and collusion, and the results of competition and collusion for the economy and for the general public. Many misconceptions about the nature of a competitive equilibrium are dispelled. The book is not only a mathematical analysis of core price theory but also contains extensive empirical research in private industry. These empirical findings, from research pursued over several years, enhance understanding of how competition works and of the determinants of the returns to manufacturing industries.
Detecting Collusion in Timber Auctions
Author:
Publisher: World Bank Publications
ISBN:
Category : Access to Markets
Languages : en
Pages : 58
Book Description
Abstract: Romania was one of the first transition countries in Europe to introduce auctions for allocating standing timber (stumpage) in public forests. In comparison with the former system in the country-administrative allocation at set prices-timber auctions offer several potential advantages: greater revenue generation for the government, a higher probability that tracts will be allocated to the firms that value them most highly, and stronger incentives for technological change within industry and efficiency gains in the public sector. Competition is the key to realizing these advantages. Unfortunately, collusion among bidders often limits competition in timber auctions, including in well-established market economies such as the United States. The result is that tracts sell below their fair market value, which undermines the advantages of auctions. This paper examines the Romanian auction system, with a focus on the use of econometric methods to detect collusion. It begins by describing the historical development of the system and the principal steps in the auction process. It then discusses the qualitative impacts of various economic and institutional factors, including collusion, on winning bids in different regions of the country. This discussion draws on information from a combination of sources, including unstructured interviews conducted with government officials and company representatives during 2003. Next, the paper summarizes key findings from the broader research literature on auctions, with an emphasis on empirical studies that have developed econometric methods for detecting collusion. It then presents an application of such methods to timber auction data from two forest directorates in Romania, Neamt and Suceava. This application confirms that data from Romanian timber auctions can be used to determine the likelihood of collusion, and it suggests that collusion reduced winning bids in Suceava in 2002 and perhaps also in Neamt. The paper concludes with a discussion of actions that the government can take to reduce the incidence of collusion and minimize its impact on auction outcomes.
Publisher: World Bank Publications
ISBN:
Category : Access to Markets
Languages : en
Pages : 58
Book Description
Abstract: Romania was one of the first transition countries in Europe to introduce auctions for allocating standing timber (stumpage) in public forests. In comparison with the former system in the country-administrative allocation at set prices-timber auctions offer several potential advantages: greater revenue generation for the government, a higher probability that tracts will be allocated to the firms that value them most highly, and stronger incentives for technological change within industry and efficiency gains in the public sector. Competition is the key to realizing these advantages. Unfortunately, collusion among bidders often limits competition in timber auctions, including in well-established market economies such as the United States. The result is that tracts sell below their fair market value, which undermines the advantages of auctions. This paper examines the Romanian auction system, with a focus on the use of econometric methods to detect collusion. It begins by describing the historical development of the system and the principal steps in the auction process. It then discusses the qualitative impacts of various economic and institutional factors, including collusion, on winning bids in different regions of the country. This discussion draws on information from a combination of sources, including unstructured interviews conducted with government officials and company representatives during 2003. Next, the paper summarizes key findings from the broader research literature on auctions, with an emphasis on empirical studies that have developed econometric methods for detecting collusion. It then presents an application of such methods to timber auction data from two forest directorates in Romania, Neamt and Suceava. This application confirms that data from Romanian timber auctions can be used to determine the likelihood of collusion, and it suggests that collusion reduced winning bids in Suceava in 2002 and perhaps also in Neamt. The paper concludes with a discussion of actions that the government can take to reduce the incidence of collusion and minimize its impact on auction outcomes.
Algorithms, Collusion and Competition Law
Author: Steven Van Uytsel
Publisher: Edward Elgar Publishing
ISBN: 1802203044
Category : Law
Languages : en
Pages : 281
Book Description
What is algorithmic collusion? This evaluative book provides an insight into tackling this important question for competition law, with contrasting critical perspectives, including theoretical, empirical, and doctrinal – the latter frequently from a comparative perspective. Bringing together scholarly discussion on algorithmic collusion, the book questions whether competition law is adeptly equipped to deal with its various facets.
Publisher: Edward Elgar Publishing
ISBN: 1802203044
Category : Law
Languages : en
Pages : 281
Book Description
What is algorithmic collusion? This evaluative book provides an insight into tackling this important question for competition law, with contrasting critical perspectives, including theoretical, empirical, and doctrinal – the latter frequently from a comparative perspective. Bringing together scholarly discussion on algorithmic collusion, the book questions whether competition law is adeptly equipped to deal with its various facets.