shill bidding
description: person who publicly helps or gives credibility to a person or organization without disclosing that they have a close relationship with the person or organization
3 results
The Inner Lives of Markets: How People Shape Them—And They Shape Us
by Tim Sullivan · 6 Jun 2016 · 252pp · 73,131 words
virtues, [the Vickrey auction] also suffers from weaknesses that are often decisive.”13 For instance, there was no collusion in Vickrey’s model and no shill bidding from buyers using multiple identities—strategies familiar to government contractors since time immemorial. Auction theorists figured out that, in sales involving more than a single
Smart Mobs: The Next Social Revolution
by Howard Rheingold · 24 Dec 2011
spur the efforts of smartest mobs who build improved reputation systems to counter known forms of cheating. eBay looks for evidence of the kind of “shill bidding” that was uncovered when a seller conspired to inflate the price of a painting.27 The low rate of fraud on eBay poses a dilemma
Reinventing the Bazaar: A Natural History of Markets
by John McMillan · 1 Jan 2002 · 350pp · 103,988 words
cannot check the quality of the merchandise. A seller, perhaps knowingly, perhaps inadvertently, might represent a worthless painting as the work of a known artist. Shill bidding, under which an accomplice bids up the price in order to create a false idea of the item’s value, is not unknown. Occasionally buyers