Empirical Studies of Auctions and Bidding

拍卖与招标的实证研究

• 批准号: 9308713
• 负责人: Robert Porter
• 金额: $ 19.72万
• 依托单位: Northwestern University
• 依托单位国家: 美国
• 项目类别: Continuing Grant
• 财政年份: 1993
• 资助国家: 美国
• 起止时间: 1993-08-15 至 1996-07-31
• 项目状态: 已结题
• 来源: https://www.nsf.gov/awardsearch/showAward?AWD_ID=9308713&HistoricalAwards=false
• 关键词: Empirical; Studies; Auctions; Bidding

9308713 Porter This project will extend the investigator's prior empirical research on auctions and bidding and consists of three parts. The first consists of an analysis of the incidence and timing of drilling activity on offshore wildcat oil tracts. A third of these tracts are never drilled, and there is significant delay prior to drilling. A deadline effect is apparent at the expiration of the five year lease term. Initial work indicates that drilling patterns are inefficient, in that there may be gains from coordination of drilling plans. This work will further characterize the drilling decision, in order to determine how firms respond to information that becomes available after the lease sale, and in order to quantify the degree of inefficiency. The second component consists of a study of joint bidding on wildcat tracts. More than half of the bids submitted are joint, and in 1975 Congress banned joint bids involving two or more of eight large corporations. The goal of this research is to determine the role played by joint bids. They may foster competition, by pooling capital or by spreading risk, but they may have anti-competitive effects by allowing firms to agree to bid less aggressively. The project will attempt to discriminate between these alternative explanations, in order to inform policy decisions. The third component will gather data on procurement auctions from the Justice Department and antitrust trial records. Previous work analyzed bid patterns in highway paving contracts let by New York State in the early 1980s, in auctions where a subset of firms allegedly engaged in a bid rigging scheme. This work will examine other data sets, in order to determine the incidence and characteristics of bid rigging in other auction markets. The empirical techniques employed will differ from those used previously, as bid rigging schemes depend on the auction rules and the nature of the goods being sold, and because more detailed data on the co sts of meeting the contract are available. The new data sets will probably include bidding on school milk contracts. ***

9308713 Porter 该项目将扩展研究者之前对拍卖和投标的实证研究，由三个部分组成。 第一个部分包括对海上预谋油田钻井活动的发生率和时间安排的分析。 其中三分之一的区域从未被钻探过，并且在钻探之前存在显着的延迟。 五年租期届满时，期限效应就很明显。 初步工作表明，钻井模式效率低下，因为协调钻井计划可能会带来好处。 这项工作将进一步描述钻探决策的特征，以确定公司如何应对租赁出售后可用的信息，并量化低效率的程度。 第二部分包括对野猫土地联合投标的研究。 超过一半的投标是联合投标，1975 年国会禁止八家大公司中的两家或两家以上联合投标。 本研究的目的是确定联合投标所发挥的作用。 它们可能会通过集中资本或分散风险来促进竞争，但也可能会因允许企业同意不那么激进地出价而产生反竞争效果。 该项目将尝试区分这些替代解释，以便为政策决策提供信息。 第三部分将从司法部收集采购拍卖数据和反垄断审判记录。 之前的工作分析了纽约州在 20 世纪 80 年代初期出租的高速公路铺设合同中的投标模式，在拍卖中，据称有一部分公司参与了串通投标计划。 这项工作将检查其他数据集，以确定其他拍卖市场中串通投标的发生率和特征。 所采用的经验技术将与以前使用的技术不同，因为围标方案取决于拍卖规则和所售商品的性质，并且可以获得有关履行合同成本的更详细数据。 新的数据集可能包括学生奶合同的投标。 ***