OPTIMAL AUCTIONS WHEN A SELLER IS BOUND TO SELL TO COLLUSIVE BIDDERS*
研究了卖方必须向一个协调良好的卡特尔中的两个潜在买家出售单件物品时的最优拍卖，发现卖方可通过简单机制容忍合谋，迫使竞拍者支付高额费用以避免低效分配。
I consider optimal auctions for a seller who is bound to sell a single item to one of two potential buyers, organized in a ‘well‐coordinated’ cartel. I show that, even though the seller cannot deter collusion, he can optimally accommodate it by employing a simple mechanism which imposes an inefficient allocation on the bidders unless they pay a sufficiently high amount to avoid it.