Bid rigging is a form of collusion where two or more parties agree to submit bids at a specific price to manipulate the auction process, typically to obtain a contract or acquire an asset at a predetermined price. This can include:

1. _Collusive bidding_: Agreeing on bids to manipulate the auction outcome.

2. _Bid suppression_: Agreeing not to bid or to withdraw bids to reduce competition.

3. _Bid rotation_: Taking turns submitting the winning bid to share contracts or assets.

4. _Bid matching_: Submitting identical bids to create the illusion of competition.

Bid rigging can occur in various contexts, including:

1. _Government contracts_: Colluding to win contracts for public projects.

2. _Auctions_: Manipulating the bidding process for assets, such as art, real estate, or commodities.

3. _Procurement_: Colluding to win contracts for goods or services.

Bid rigging can lead to:

1. _Unfair competition_: Restricting access to markets and limiting innovation.

2. _Economic harm_: Overcharging or underdelivering on contracts.

3. _Loss of public trust_: Undermining confidence in government and market institutions.

To detect and prevent bid rigging, regulators and law enforcement agencies use:

1. _Bid analysis_: Reviewing bid patterns and pricing to identify suspicious activity.

2. _Investigations_: Conducting in-depth analyses of suspected bid rigging.

3. _Whistleblower tips_: Encouraging reporting of suspicious activity.

4. _Regulatory enforcement_: Imposing penalties and fines for bid rigging violations.

5. _Compliance programs_: Encouraging companies to implement anti-collusion measures.