Anatomy of the rise and fall of a price-fixing conspiracy
Subtitle: auctions at sotheby's and christie's
By: Orley Ashenfelter, Kathryn Graddy.
Contributors: Graddy, Kathryn Jo, 1963-; National Bureau of Economic Research.
Series: NBER working paper series ;; working paper 10795; Working paper series (National Bureau of Economic Research : Online) ;; working paper no. 10795.
Publisher: National Bureau of Economic Research
Published: 2004
Place of publication: Cambridge, MA
Language: eng
Format: Electronic resource
Subjects: Sotheby's (Firm) -- Corrupt practices.; Christie's International Group -- Corrupt practices.; Price fixing.; Auctions -- Corrupt practices.
Description: "The Sotheby's/Christie's price-fixing scandal that ended in the public trial of Alfred Taubman provides a unique window on a number of key economic and antitrust policy issues related to the use of the auction system.  The trial provided detailed evidence as to how the price fixing worked, and the economic conditions under which it was started and began to fall apart.  The outcome of the case also provides evidence on the novel auction process used to choose the lead counsel for the civil settlement.  Finally, though buyers received the bulk of the damages, a straightforward application of the economic theory of auctions shows that it is unlikely that successful buyers as a group were injured"--National Bureau of Economic Research web site.
Notes: Includes bibliographical references.
Title from PDF file as viewed on 1/11/2005.
Also available in print.
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Mode of access: World Wide Web.