Original text - Engels - In a standard high-bid auction, this would entail...

In a standard high-bid auction, this would entail soliciting a bribe in exchange for lowering the winner’s bid down to the second-highest bid. Several existing papers address ex post bribery that occurs after all of the bids are submitted. Another way that corruption occurs is that the auctioneer could solicit bribes from the bidders before the bids are submitted , in exchange for a promise to reduce the bidder’s bid should that bidder be the winner.