Cartel Stability in Sealed Bid Second Price Auctions
研究了密封投标第二价格拍卖中，即使卡特尔指定赢家不是最高估值者，该拍卖机制也极易促成参与者合谋，揭示了其重大缺陷。
One of the great advantages of sealed bid second price auctions is that they lead to very simple bidding strategies. This paper shows that they also suffer from a major inconvenience: They greatly facilitate collusion among the participants, even if the cartel's designated winner is not the one with the highest valuation.