Upload
others
View
3
Download
0
Embed Size (px)
Citation preview
) !"#+$ %+&#'#"(*,-,'#%+&#+$-+. $/%*0,+#,+$-%+. (1"-%+12!$*.-%3+#$+.-% +&#+45*$#
65#+ &#'#"(*,-,'%+ 7+ . $$/%* ,+ *,+ 1/!$*.+ 1" ./"#(#,'3+'5#+.-%#+ 7+45*$#
J U A N F R A N C I S C O M A R T Í N E Z S . , D AV I D E S C O B A R Y C L A U D I O LO YO L A *
%&234&5++8%'#+-"'9./$ +*,'#,'-+#:1$*.-"+$ %+&#'#"(*,-,'#%+&#+$-+. $/%*0,+;+
%/%+ . ,%#./#,.*-%+ #. ,0(*.-%+ 1-"-+ $-%+ . (1"-%+ 12!$*.-%<+ 8(1$#-,& + /,-+
-(1$*-+=-"*#&-&+&#+( &#$ %+#. , (>'"*. %+1-"-+ $-+. $/%*0,?+#$+& ./(#,' +
. ,.$/;#+@/#+$-+. $/%*0,+#%+A#,#"-&-+1"*,.*1-$(#,'#+1 "+#$+%#.' "+1" &/.'*= ?+
$-+*,#,&#,.*-+&#$+ "A-,*%( +. (1"-& "?+#$+( ,' +&#+&*,#" +*,= $/."-& ?+
$-+1 %*!*$*&-&+&#+%/!. ,'"-'-.*0,?+$-+.-,'*&-&+&#+ 7#"'-%+;+#$+#%@/#(-+&#+-&B/C
&*.-.*0,+(2$'*1$#<+D#%1/>%+&#+#%'-+*,=#%'*A-.*0,?+%#+*(1$#(#,'0+/,+#,7 @/#+
#. , (>'"*. +#%'E,&-"+&#+"#A"#%* ,#%+F4G?+H" !*'+;+I A*'+1-"-+ !'#,#"+$ %+
&#'#"(*,-,'#%?+%/+%*A,*7*.-,.*-+;+%/+(-A,*'/&<+I-%+=-"*-!$#%+*,#,&*#,'#%+;+
#,&*#,'#%+7/#" ,+#%. A*&-%+-+1-"'*"+&#+/,+1" 7/,& +-,E$*%*%+!*!$* A"E7*. ?+
B/,' +. ,+. ,%/$'-%+-+$ %+#:1#"' %+#,+#$+ "A-,*%( +.5*$#, +&#+. (1"-%+12C
!$*.-%<+I %+ "#%/$'-& %+&#+#%'#+#%'/&* +, + % ,+. (1$#'-(#,'#+. ,.$/;#,'#%?+
&#!*& +-+@/#+#%'-( %+. ,%*&#"-,& +1 %*!*$*&-&#%+&#+. $/%*0,?+%*,+#$+. ""#%C
1 ,&*#,'#+B/*.* +$#A-$<
!"#"$%"&'(#")*+'4 (1"-%+12!$*.-%+J. $/%*0,+J+. ""/1.*0,+;+. (1#'#,.*-<
!627-*,7++65*%+-"'*.$#+'"*#%+' +#:1$-*,+'5#+&#'#"(*,-,'%+ 7+. $$/%* ,+-,&+*'%+
#. , (*.+. ,%#@/#,.#%+7 "+1/!$*.+1" ./"#(#,'<+8(1$ ;*,A+-+K*&#+=-"*#';+ 7+
( &#$%+#. , (#'"*.+. $$/%* ,?+'5*%+1-1#"+. ,.$/&#%+'5-'+. $$/%* ,+*%+A#,#"-'C
#&+(-*,$;+!;+'5#+1" &/.'*=#+%#.' "?+'5#+*,#,&#,.#+ 7+'5#+!/;#"?+-( /,'+ 7+
( ,#;+*,= $=#&?+'5#+1 %%*!*$*';+ 7+ /'% /".*,A?+'5#+,/(!#"+ 7+!*&%+-,&+-K-"&C
*,A+ %.5#(#<+L7'#"+ '5*%+ "#%#-".5?+-+ %'-,&-"&+#. , (#'"*.+-11" -.5+ ' +GI)+
K-%+*(1$#(#,'#&?+H" !*'+-,&+I A*'+7 "+&#'#"(*,-,'%?+'5#*"+%*A,*7*.-,.#+-,&+
(-A,*'/&#<+65#+*,#,&#,'+-,&+#,&#,'+=-"*-!$#%+K#"#+.5 %#,+7 $$ K*,A+
-+'5 " /A5+$*'#"-'/"#+"#=*#K?+-$ ,A+K*'5+. ,%/$'-'* ,+K*'5+#:1#"'%+*,+'5#+45*$C
#-,+1" ./"#(#,'+-A#,.;<+65#+"#%/$'%+ 7+'5*%+%'/&;+-"#+, '+ 7/$$;+. ,.$/%*=#?+
!#.-/%#+*'+*%+. ,%*&#"*,A+1 %%*!*$*'*#%+ 7+. $$/%* ,?+K*'5 /'+1" 1#"+$#A-$+'"*-$<
,*-'./%0&+'H" ./"#(#,'+J+. $$/%* ,+J+. ""/1'* ,+J+. (1#'#,.#
CONTENIDO: INTRODUCCIÓN.– I. HECHOS ESTILIZADOS DE COLUSIÓN.– II. EVIDENCIA EMPÍRICA.– III. PRUEBAS DE ROBUSTEZ Y ANÁLISIS DE SENSI-BILIDAD.– IV. CONCLUSIONES.
! ,"%!#$&"'0%!/0'&0(0)0(!#!*#!+-.-%-1(!+0!20')#+"!345*-)"!+0*!+0/#'<(&"!+0!7(.0%&-8#)-1(9!:-'0))-1(!+0!;"6/'#%!<!;"(&'#&#)-1(!345*-)#%!+0!;=-*0!;"6/'#9!)"6"!/#'&0!+0*!2-(-%&0'-"!+0!>#)-0(+#!+0!;=-*0?
N° 66, 2011 pp. 385-417
JUA
N F
RA
NC
ISC
O M
AR
TÍN
EZ
S. /
DA
VID
ES
CO
BA
R /
CL
AU
DIO
LO
YO
LA
MNO
Derecho PUCP, N° 66, 2011 / ISSN 0251-3420
I N T R O D U C C I Ó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
V*,-$(#,'#?+#%'#+#%'/&* +1" 1 ".* ,-+/,+(-". +*,*.*-$+1-"-+&#'#.'-"+$-+(-,*7#%'-.*0,+&#+#=#,' %+&#+. $/%*0,<+8$+=-$ "+-A"#A-& +&#+#%'-+*,=#%C'*A-.*0,+#%'E+!-%-& +#,+#$+/% +;+#,+#$+1" .#%-(*#,' +&#+&-' %+."/& %?+(#&*-,'#+$-+-1$*.-.*0,+&#+1"/#!-%+#. , (>'"*.-%+#%'E,&-"#%<
I . H E C H O S E S T I L I Z A D O S D E C O L U S I Ó NI-+. $/%*0,+#,+$-%+$*.*'-.* ,#%+12!$*.-%+%#+1" &/.#+#,+& %+&*(#,%* ,#%<+I-+1"*(#"-+#%+./-,& +$-%+#(1"#%-%+%#+1 ,#,+&#+-./#"& +1-"-+-/(#,C'-"+ %/%+A-,-,.*-%+&#+(-,#"-+ *$9.*'-<+8,+ $-%+ $*.*'-.* ,#%+12!$*.-%?+ #%'-%+%#+1 ,#,+&#+-./#"& +1-"-+-/(#,'-"+%/%+ 7#"'-%+1-"-+ !'#,#"+!#,#7*.* %+-&*.* ,-$#%+-$+1" 1 ".* ,-"+#$+!*#,+ +%#"=*.* +"#@/#"*& <+8,+#%'#+.-% ?+$ %+
@! A%! $(! -(%&'$60(&"! 0+$)#)-"(#*! )"()05-+"! /#'#! )*#'-B-)#'! *#! *08-%*#)-1(! <! *"%! /'")0+-6-0(&"%! +0!)"6/'#%!/45*-)#%?
JUA
N F
RA
NC
ISC
O M
AR
TÍN
EZ
S. /
DA
VID
ES
CO
BA
R /
CL
AU
DIO
LO
YO
LA
SOBRE LOS DETERMINANTES DE LA COLUSIÓN EN LAS COMPRAS PÚBLICAS: EL CASO DE CHILE
THE DETERMINANTS OF COLLUSION IN PUBLIC PROCUREMENT: THE CASE OF CHILE
MNW
OO
Derecho PUCP, N° 66, 2011 / ISSN 0251-3420
1" =##& "#%+/'*$*P-,+(#.-,*%( %+(2$'*1$#%+;+.-1-.#%+&#+#= $/.* ,-"?+$ +./-$+&*7*./$'-+!-%'-,'#+%/+"#A/$-.*0,<+8:*%'#,+=-"* %+#B#(1$ %+.>$#!"#%+#,+$-+$*'#"-'/"-X?+. ,+1>"&*&-%+(*$$ ,-"*-%+1-"-+$ %+A !*#", %<+
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
I.1. Descripción del mercado y algunas reglas generalesD/"-,'#+#$+-S +X[[W?+%#+#(*'*#" ,+(E%+&#+T?\+(*$$ ,#%+&#+0"&#,#%+&#+. (1"-?+1 "+/,+( ,' + ' '-$+&#+U)]+^+^\N+(*$$ ,#%<+I-+.-,'*&-&+&#+$*.*'-.* ,#%+12!$*.-%+7/#+&#+^\[+[XM<+I-%+%*A/*#,'#%+'-!$-%+(/#%'"-,+#,+&#'-$$#+-$A/, %+=-$ "#%+%*A,*7*.-'*= %+;+&#%."*!#,+1-".*-$(#,'#+$-+. (1#C'*'*=*&-&+&#$+(#".-& +&#+. (1"-%+12!$*.-%+#,+45*$#<
C! F&',.'+'+9!3#$*?!7 !! "#($%&')*+?!DE9!CFFG?
JUA
N F
RA
NC
ISC
O M
AR
TÍN
EZ
S. /
DA
VID
ES
CO
BA
R /
CL
AU
DIO
LO
YO
LA
MNN
Derecho PUCP, N° 66, 2011 / ISSN 0251-3420
Tabla 1
%&K(O5 R(,-/ 9&]3&F*2 R&.(*5*2 T-*5.&2 #/7*)
L"*.-+;+H-"*,-. '- W+^OX _+TNN O+[X_ T\+XXM MW+_[X
6-"-1-.E T_+M\_ T_+WX_ TT+[M\ X_+^XN W_+\\[
L,' 7-A-%'- X+T[O M+[_T T+N\O O+XXX TM+XW\
L'-.-(- ^+OX\ \+[_T ^+^\[ TT+OX_ X\+W_O
4 @/*(! M+^OM ^+O_[ X+M[^ \+_^M TO+^[T
-̀$1-"-9% M\+N\M ^X+OO\ XM+[[M O[+\_[ TOX+TTT
F#'" 1 $*'-,- N+O_[ _+^X_ W+M[^ T\+MOM ^[+WNO
I*!<+a"-$<+b& <+Gc5*AA*,% T[+\WO TX+MXX \+^NN TO+NX\ ^\+XTT
F-/$# TW+WMM X[+^\O _+\XW X\+TMW WX+N\M
b9 Cb9 _+\NN _+NWN ^+X^N TW+MMN ^T+[\X
L"-/.-,9- O+^T\ O+O[O ^+\XM TX+O\N M[+X[X
I %+d9 % TW+MX^ TW+TWN N+_[_ XW+MWW W[+WNW
I %+I-A % TT^+^X^ T^N+XW^ _O+WN_ MTX+T[[ OWT+\NW
L;%>, M+_XW M+M_W T+_[M W+^MW TO+OOM
F-A-$$-,#%+;+L,'E"'*.- XN+X[^ MN+[\^ X\+[WT W\+\\T TOO+NN[
6 '-$ XN_+W^W M\[+[^W XTX+^^T OMN+NX[ T+^_T+[\^
Tabla 2
Tabla 3
F-/$# XN+WMX ^+T_^ T^?O[e
b9 Cb9 OT+W^\ N+\[\ TM?N[e
L"-/.-,9- XN+TNT M+_[[ TM?N[e
I %+d9 % TX+N^\ T+\TO TT?N[e
I %+I-A % XW+TW_ M+OXT TM?M[e
L;%>, N+^\_ T+XO\ T^?_[e
F-A-$$-,#%+;+L,'E"'*.- T^+^OW X+TNX T\?T[e
6 '-$ ^\[+[XM O\+TWX T^?\[e
%&K(O5 a$c?$8P&-7*2
L"*.-+;+H-"*,-. '- ^[?O[e
6-"-1-.E M_?OXe
L,' 7-A-%'- ^T?X\e
L'-.-(- MW?_Me
4 @/*(! M_?_[e
-̀$1-"-9% MT?TWe
F#'" 1 $*'-,- M[?TNe
I*!<+a"-$<+b& <+Gc5*AA*,% M[?OWe
F-/$# MT?[^e
b9 Cb9 M[?O[e
L"-/.-,9- M^?ONe
I %+d9 % MT?[Te
I %+I-A % MW?T^e
L;%>, ^N?\^e
F-A-$$-,#%+;+L,'E"'*.- M\?XNe
6 '-$ MX?OWe
8$-! "-.*0,+1" 1*-<
8$-! "-.*0,+1" 1*-<
8$-! "-.*0,+1" 1*-<
JUA
N F
RA
NC
ISC
O M
AR
TÍN
EZ
S. /
DA
VID
ES
CO
BA
R /
CL
AU
DIO
LO
YO
LA
SOBRE LOS DETERMINANTES DE LA COLUSIÓN EN LAS COMPRAS PÚBLICAS: EL CASO DE CHILE
THE DETERMINANTS OF COLLUSION IN PUBLIC PROCUREMENT: THE CASE OF CHILE
MN_
OO
Derecho PUCP, N° 66, 2011 / ISSN 0251-3420
I.2. Marco teórico de la colusión8,+#%'-+%#..*0,+&#%."*!*"#( %+!"#=#(#,'#+$-+'# "9-+#. ,0(*.-+!E%*.-+&#$+7#,0(#, +&#+$-+. $/%*0,+;+ 7"#.#"#( %+-$A/,-%+#:1$*.-.* ,#%+"-.* C,-$#%+1-"-+$-+1-"'#+#(19"*.-+&#+#%'#+#%'/&* <+f-+%-!#( %+@/#+$ %+1" .#% %+@/#+#%'-( %+( &#$-,& +%#+*,#,+. ( +!%1%'*1%,&"+$g+-<*+'*+$)K<!%1*+h<+H "+$ +'-,' ?+$-%+5#""-(*#,'-%+@/#+=-( %+-+/'*$*P-"+#%'E,+"#$-.* ,-&-%+. ,+$-+'# "9-+&#+$-%+%/!-%'-%+;+$ %+B/#A %<
)*+%#+-1$*.-+/,+-,E$*%*%+#%'E,&-"+&#+$-+'# "9-+&#+B/#A %?+/,+-./#"& +&#+. $/%*0,+#%+/,+#@/*$*!"* +%/!1#"7#.' +#,+#$+.-% +&#+$ %+B/#A %+&#+/,-+% $-+=#P+g,&";+2,'$7*:"h?+1#" +, +#%'E+.$-"-(#,'#+*,*& +#,+#$+.-% +&#+$ %+B/#A %+"#1#'*& %+R#$+.-% +(E%+"#-$*%'-R<+)*,+#(!-"A ?+1/#&#+%#"+/,+#@/*$*!"* +i-%5+#,+./-$@/*#"+#%1#.*7*.-.*0,+&#+B/#A ?+#,&*#,& +&#+$ %+ %/1/#%' %<+8,+#%'#+ %#,'*& ?+ #$+ B/#A +&#!#"9-+ "#% $=#"%#+&#+(-,#"-+&*,E(*.-<
I-+% $/.*0,+&#+#%'#+1" !$#(-+#%+!-%'-,'#+*,'/*'*=-3+$-%+A-,-,.*-%+&#+$-+. $/%*0,+&#!#"9-,+%#"+(-; "#%+@/#+#$+.-%'*A +#,+.-% +&#+/,-+Y'"-*.*0,Z+-$+-./#"& <+L+1-"'*"+&#+#%'#+-,E$*%*%?+#%+7E.*$+&#&/.*"+@/#?+(*#,'"-%+(-; "+%#-+$-+.-,'*&-&+&#+ 7#"'-%?+(#B "+%#"E+#$+1"#.* +@/#+1/#&#+ !'#,#"+/,+ "A-,*%( +. (1"-& "+.#,'"-$*P-& ?+;-+@/#?+-+(#&*&-+@/#+-/(#,'-+$-+.-,'*&-&+&#+ 7#"'-%+R/+ 7#"#,'#%+#,+#%'#+.-% R?+ $ %+ *,.#,'*= %+1-"-+. $/&*"%#+%#+"#&/.#,<+)*,+#(!-"A ?+$ %+%/1/#%' %+&#+#%'#+-,E$*%*%+% ,+(/;+7/#"'#%+;+, +*(1$*.-,+/,-+-/%#,.*-+&#+. $/%*0,+#,+.-% %+"#-$#%?+-/,@/#+1" 1 ".* ,-,+$-+1"*,.*1-$+#=*&#,.*-+'#0"*.-+&#+,/#%'" +#%'/&* <
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
D-&-%+$-%+*&#-%+&#+#%'-+%#..*0,?+. ,%'"/*"#( %+/,+. ,B/,' +&#+=-"*-!$#%+@/#+"#1"#%#,'-,+1 %*!*$*&-&#%+&#+#@/*$*!"* %+-+'"-=>%+&#+$-+. $/%*0,?+!-%-C&-%+#,+/,+. (1 "'-(*#,' +-, "(-$+&#+$ %+ 7#"#,'#%+;+$-%+ 7#"'-%?+& ,&#+#:*%'-+/,-+. *,.*&#,.*-+#,'"#+$-+'# "9-+;+$-+1"E.'*.-<+8%+&#.*"?+-,-$*P-"#C( %+#=#,' %+. ,+. (1 ,#,'#%+, C. (1#'*'*= %?+. ,+1"#.* %+-, "(-$C(#,'#+-$' %+ +1"#.* %+7-$%#-& %+g/-::?$)(%1"+h?+A-,-& "#%+"#1#'*& %?+/+ 7#"#,'#%+,/#= %+#:'"#(-&-(#,'#+-7 "'/,-& %<
H! 7):)+-9!3#&'-)I!<!J#''0&!20,,'+2?!K:0&0)&-(8!)"**$%-"(!-(!/'")$'060(&!#$)&-"(%L?M! ."+/'+9!N"50'&!<!:"$8*#%!$"#)?!K:0&0)&-"(!"B!5-+!'-88-(8!-(!/'")$'060(&!#$)&-"(%L?!OPAN9!@QQC?
JUA
N F
RA
NC
ISC
O M
AR
TÍN
EZ
S. /
DA
VID
ES
CO
BA
R /
CL
AU
DIO
LO
YO
LA
M_[
Derecho PUCP, N° 66, 2011 / ISSN 0251-3420
8$+. ,'#:' +'#0"*. +&#+#%'#+& ./(#,' +#%+/,-+. (1#'#,.*-+Y $*A 1 $9%C'*.-Z+1-"-+#$+.-% +&#+$-+. $/%*0,+#,'"#+1" =##& "#%+gGCGh+;+&#+. (1 "C'-(*#,' %+, C. (1#'*'*= %+#,+#$+.-% +&#+$-+. $/%*0,+#,'"#+/,+1" =##& "+;+/,+. (1"-& "+gGCDh<+8,+-(! %+.-% %+#:*%'#+/,-+A-,-,.*-+-, "(-$?+, C. (1#'*'*=-+#+*$9.*'-?+@/#+%#+. (1-"'#+#,'"#+$ %+B/A-& "#%?+@/#+#%+*,C=#"%-(#,'#+1" 1 ".* ,-$+-+$-+.-,'*&-&+&#+B/A-& "#%\<
I-+.*7"-+&#+ $-+A-,-,.*-+ *$#A-$+ %#+1/#&#+&#'#"(*,-"+-+1-"'*"+&#+ $ %+&-C' %+-A"#A-& %+-$+. (1-"-"+$ %+1"#.* %+#%'*(-& %+. ,+$-+.*7"-+-&B/&*.-&-Q+%*,+#(!-"A ?+#%' +*(1$*.-"9-+/,-+$-! "+'*'E,*.-?+%*+. ,%*&#"-( %+@/#+$-+&*7#"#,.*-+. ,'*#,#+#$#(#,' %+, +,#.#%-"*-(#,'#+"#$-.* ,-& %+. ,+$-+. $/%*0,<+L/,+-%9?+%#+5-+&#( %'"-& +@/#+$ %+#7#.' %+% !"#+$-%+$*.*'-.* ,#%+gGCGh+-,-$*P-&-%+% ,+#, "(#%O+#,+'>"(*, %+&#+.*7"-%+( ,#'-"*-%<+H "+ '" + $-& ?+ $ %+#7#.' %+ % !"#+ $-%+ $*.*'-.* ,#%+gGCDh+-,-$*P-&-%+ % ,+(#C, "#%?+1#" +, +(#, %+*(1 "'-,'#%?+;-+@/#+$-+*(-A#,+&#+'"-,%1-"#,.*-+;+."#&*!*$*&-&+&#$+%*%'#(-+#%'E+=*,./$-&-+-+#%'-%+*""#A/$-"*&-&#%<+L+(-C; "#%+*""#A/$-"*&-&#%?+(#, "+1#".#1.*0,+&#+'"-,%1-"#,.*-Q+1 "+$ +'-,' ?+&-& +@/#+$-+'"-,%1-"#,.*-+-/(#,'-+$-+*,'#,.*0,+&#+1-"'*.*1-"?+. ,%'*'/;#+/,+. (1 ,#,'#+(/;+*(1 "'-,'#+1-"-+$-+. (1#'#,.*-+;+$-+ !'#,.*0,+&#+1"#.* %+#7*.*#,'#%<
L%9?+#,+-(! %+.-% %+&#+. $/%*0,?+1-"-+.-$./$-"+#$+*(1-.' +&#+$ %+=-$ "#%+*,'"9,%#. %+&#+$-%+$*.*'-.* ,#%+% !"#+$-+. $/%*0,?+$ +1"*(#" +@/#+%#+&#!#+5-.#"+#%+#%'-!$#.#"+./E$#%+% ,+$-%+. ,&*.* ,#%+@/#+7-.*$*'-,+$-+. $/%*0,W<+U,-+=#P+@/#+'#,#( %+ $-%+=-"*-!$#%+1" :*(-$#%?+1 ,#( %+-+1"/#!-+ $-%+. ,&*.* ,#%+;+ !'#,#( %+ $-+ %*A,*7*.-,.*-+&#+.-&-+&#'#"(*,-,'#+#,+ $-+&*(#,%*0,+&#+$-+. $/%*0,+@/#+#%'-( %+-,-$*P-,& <
I.3. Proxies de colusión)#A2,+&#%."*!*( %+-,'#"* "(#,'#?+( &#$-"#( %+$-+. $/%*0,+. ,+)(,#%"+$"#$-.* ,-& %+-+$-+1 %*!*$*&-&+&#+. $/%*0,<+D#+-./#"& +-+$-+$*'#"-'/"-+"#C=*%-&-+gH "'#"+;+j ,-+T__X?+k#,&"*.l%+;+H "'#"+T_N_h?+-$A/,-%+&#+$-%+-, (-$9-%+ &#'#.'-!$#%+ (E%+ . (/,#%+ % ,+ -&B/&*.-.*0,+ #,+ $-+ 1"*(#"-+ 7#"'-?+A-,-& "+"#1#'*& ?+&#(-%*-&-%+ 7#"'-%+7-$%-%+;+1"#.* %+-&B/&*.-& %+#:.#%*=-(#,'#+-$' %<
8$+1"*(#" +&#+#%' %+. ,.#1' %+#%+!-%'-,'#+.$-" 3+#%+/,+5#.5 +(/;+%*,A/C$-"+@/#+/,+1" =##& "+,/#= +A-,#+$-+1"*(#"-+$*.*'-.*0,+#,+$-+@/#+1-"'*.*C1-Q+#:*%'#,+%#"*-%+&/&-%+% !"#+#$+1" .#% ?+-/,@/#+#%+% $ +/,-+1 %*!*$*&-&+&#+. $/%*0,+R7/#"'#?+1#" +&#+' &-%+7 "(-%+% $ +/,-+1 %*!*$*&-&R<
G! 2;).-+"9!;?!KR=0"'-0%!"B!"*-8"/"*<!50=#.-"'L?!A(!N!S)=6#*0(%00!<!N?!T-**-8!U0+-&"'0%V?!;%"!,--'(-.(
"!/+*& %0(1&-2/&)$)"*?!W6%&0'+#6X!O"'&=!>"**#(+?Y! F&',.'+'+6(3#$*?!7 !! "#($%&')*+?!DE9!CFFG?Z! ;'#1+-5F29!E?!<!N?!."+/'+?!K;"**$%-"(!-(!#$)&-"(%L?!3""%0)+(!452-"-$ )()*(!)(6*%* +* 8/)9!@Q[Q?
JUA
N F
RA
NC
ISC
O M
AR
TÍN
EZ
S. /
DA
VID
ES
CO
BA
R /
CL
AU
DIO
LO
YO
LA
SOBRE LOS DETERMINANTES DE LA COLUSIÓN EN LAS COMPRAS PÚBLICAS: EL CASO DE CHILE
THE DETERMINANTS OF COLLUSION IN PUBLIC PROCUREMENT: THE CASE OF CHILE
M_T
OO
Derecho PUCP, N° 66, 2011 / ISSN 0251-3420
8$+%#A/,& +. ,.#1' +#%+&*"#.' 3+#%+#:'"-S +@/#+#$+(*%( +1" =##& "+%#-+-&B/&*.-& +1#"*0&*.-(#,'#<+D#7*,*'*=-(#,'#+1 &"9-+#:*%'*"+. $/%*0,+#,C'"#+#$+&#(-,&-,'#+;+#$+1" =##& "?+-/,@/#+#%' +, +,#.#%-"*-(#,'#+*(1$*C.-+Y(-$-%+*,'#,.* ,#%ZQ+%*(1$#(#,'#+1 &"9-+%*A,*7*.-"+@/#+/,+ "A-,*%( +. (1"-& "+7-= "#.*0+-+/,+1" =##& "+Y7-= "*' Z+1 "@/#+1/#&#+. ,7*-"+#,+#%'#+%*,+"#=*%-"+$-+*,7 "(-.*0,+% !"#+$-+. (1#'#,.*-<
I-+'#".#"-+(-,*7#%'-.*0,+#%+(E%+%/'*$+@/#+$-%+-,'#"* "#%?+-/,@/#+, +(#C, %+*(1 "'-,'#<+8,+/,+1" .#% +. ,+(/.5-%+ 7#"'-%+@/#+%#+-.#".-,+-$+1"#.* +-&B/&*.-& ?+$-+1 %*!*$*&-&+&#+@/#+$ %+1" =##& "#%+5-;-,+$$#A-& +-+/,+-./#"& +1-"-+*(1 ,#"+/,+1"#.* +.-" +;+"#1-"'*"%#+$-+' "'-+-/(#,'-+&"-(E'*.-(#,'#<+
8$+./-"' +%9,' (-+&#+$-+. $/%*0,+#%+(/;+&*"#.' +1#" +&*79.*$+&#+&#'#.C'-"<+U'*$*P-+#$+1"#.* +#%'*(-& +@/#+#%'-!$#.#+#$+. (1"-& "+;+$ +. (1-"-+. ,+#$+1"#.* +-&B/&*.-& <+)*+$-+&*7#"#,.*-+#%+-, "(-$(#,'#+A"-,&#?+#%+#=*&#,'#+@/#+#:*%'#+. $/%*0,+gGCG+ +GCDh<+)*,+#(!-"A ?+, +1 &#( %+#:.$/*"+$ %+1" .#% %+#,+@/#+%#+"#-$*P-" ,+#=-$/-.* ,#%+*(1"#.*%-%+-+.-/%-+&#+/,-+(-$-+A#%'*0,?+;+, +,#.#%-"*-(#,'#+. ,+(-$-%+*,'#,.* ,#%<
I.4. Determinantes de la colusiónD#+-./#"& + . ,+ $-+ $*'#"-'/"-+ % !"#+ $-+ #=*&#,.*-+ ./-$*'-'*=-+ ;+ -$A/,-%+#=*&#,.*-%+./-,'*'-'*=-%+&#+. $/%*0,+#,+$-%+. (1"-%+12!$*.-%?+1 &#( %+&#%."*!*"+/,+. ,B/,' +&#+&#'#"(*,-,'#%+&#+$-+. $/%*0,<+8%+&#.*"?+-$A/,-%+=-"*-!$#%+%#,%*!$#%+1/#&#,+-7#.'-"+$-+1 %*!*$*&-&+&#+. $/%*0,+#,+$ %+1" C.#% %+&#+$*.*'-.* ,#%+12!$*.-%<
k#( %+. ,%'"/*& +/,-+!-%#+&#+&-' %+@/#+. ,'*#,#+' &-+$-+*,7 "(-.*0,+%*A,*7*.-'*=-+1-"-+&#'#.'-"+$-+. $/%*0,+#,+$*.*'-.* ,#%+12!$*.-%<+8,+,/#%C'" +( &#$ ?+#$+&-' +-'0(*. +#%+$-+$*.*'-.*0,?+@/#+'*#,#+.*#"' %+-'"*!/' %+@/#+%#+&#%."*!#,+-+. ,'*,/-.*0,<
U'*$*P-( %+ $-+ 1 %*!*$*&-&+ &#+ +-<1,&'(*'*1%E&$ &#+ /,-+ $*.*'-.*0,+ . ( +/,-+=-"*-!$#+7*.'*.*-?+&-& +@/#+#%'#+A"-& +&#+$*!#"'-&+1/#&#+-7#.'-"+$ %+*,.#,'*= %+1-"-+$-+$*!"#+. (1#'#,.*-<+U,-+%#A/,&-+=-"*-!$#+#%+@/#+$-+C"12*$/"$)-<!%1*1%E&$g"#A*%'" %h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
JUA
N F
RA
NC
ISC
O M
AR
TÍN
EZ
S. /
DA
VID
ES
CO
BA
R /
CL
AU
DIO
LO
YO
LA
M_X
Derecho PUCP, N° 66, 2011 / ISSN 0251-3420
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iU+1-"-+&#'#"(*,-"+@/>+ E"#-%+&#+,#A .* %+ -7#.'-,+(E%+$-%+1 %*!*$*&-&#%+&#+. $/%*0,?+&#!*& +-+.-"-.'#"9%'*.-%+*,'"9,%#.-%+&#+$ %+(#".-& %<
Grá\co: Component loadings
-.5 0 .5
-.5
0 .5
1
| | |
| |
| |
I I . E V I D E N C I A E M P Í R I C AI-+(#' & $ A9-+&#+#%'-+*,=#%'*A-.*0,+. ,%*%'#+#,+"#A"#%* ,#%+&#+. "'#+'"-,%=#"%-$+F4G+;+/,+-,E$*%*%+&#+"#A"#%*0,+!*,-"*-+1" !-!*$9%'*.-<+8%'-+(#' & $ A9-+1#"(*'*"E+#:1$*.-"+$ %+#7#.' %+.-/%-$#%+"#$-.* ,-& %+. ,+$-+. $/%*0,<+b/%.-"#( %+$ %+&#'#"(*,-,'#%+&#+$-+),+%<!"+. $/%*0,+;+&#%."*C!*"#( %+$-%+#:1$*.-.* ,#%+&#+$ %+1-'" ,#%+&#+. (1 "'-(*#,' <+8%'#+#,C7 @/#+#%+(/;+%*(1$#Q+%*,+#(!-"A ?+ 7"#.#+1#"%1#.'*=-%+#:'"#(-&-(#,'#+1 &#" %-%<
8$-! "-.*0,+1" 1*-<
JUA
N F
RA
NC
ISC
O M
AR
TÍN
EZ
S. /
DA
VID
ES
CO
BA
R /
CL
AU
DIO
LO
YO
LA
SOBRE LOS DETERMINANTES DE LA COLUSIÓN EN LAS COMPRAS PÚBLICAS: EL CASO DE CHILE
THE DETERMINANTS OF COLLUSION IN PUBLIC PROCUREMENT: THE CASE OF CHILE
M_M
OO
Derecho PUCP, N° 66, 2011 / ISSN 0251-3420
4$-"-(#,'#+#$+. ,.#1' +&#+$-+. $/%*0,+#,'"#+1" =##& "#%+ +#,'"#+$-+&#C(-,&-+;+$-+ 7#"'-+#%+*,&*%'*,A/*!$#+#,+$-+(-; "9-+&#+$ %+.-% %+1 "@/#?+-+1-"'*"+&#+$ %+&-' %?+#%+(/;+&*79.*$+#:'"-#"+$-%+( '*=-.* ,#%+1-"-+% %'#,#"+#%'#+. (1 "'-(*#,' +*$9.*' <
G"A-,*P-"#( %+#%'#+#%'/&* +#,+. ,B/,' %+&#+"#A"#%* ,#%+. ,+*,&*.-& "#%+&#+. $/%*0,<+8$+1"*(#" +. ,'*#,#+"#A"#%* ,#%+@/#+. ,%*&#"-,+#$+1 ".#,C'-B#+&#+ 7#"'-%+7-$%-%+. ( +/,+%*A, +&#+. $/%*0,<+8$+%#A/,& +. ,%*&#"-+$ %+1" .#% %+-&B/&*.-& %+-+/,+1" =##& "+./;-+1"*(#"-+;+2,*.-+ 7#"'-+7/#+-&B/&*.-&-+#,+%/+1"*(#"+*,'#,' <+8$+'#".#" +. ,%*&#"-+$ %+1" .#% %+@/#+7/#" ,+-&B/&*.-& %+%*%'#(E'*.-(#,'#+-$+(*%( +1" =##& "<+8$+./-"' +*,.$/;#+"#A"#%* ,#%+@/#+(*&#,+$-+. $/%*0,+. ( +$-+&*7#"#,.*-+#,'"#+#$+1"#.* +#%'*(-& +;+#$+1"#.* +-&B/&*.-& <
II.1. Discusión de indistinguibilidad en términos de análisis de datos
II.1.1. Principal análisis de componentes e interpretación8
I-+."#-.*0,+&#+$-%+=-"*-!$#%+)(,#?+&#+. $/%*0,+#%'E+%/B#'-+-+$-+*,&*%'*,A/*C!*$*&-&+&#$+'*1 +&#+7#,0(#, <+8,+-$A/, %+.-% %+1 &"9-+#:*%'*"+%*(/$'EC,#-(#,'#+/,-+. $/%*0,+#,'"#+1" =##& "#%?+;+#,'"#+1" =##& "+;+. (1"-C& "Q+1 "+$ +'-,' ?+#$+)(,#?+-,-$*P-"9-+-(! %+7#,0(#, %+-$+(*%( +'*#(1 <
)*,+ #(!-"A ?+ &-& %+ $ %+ -,E$*%*%+ A"E7*. %+ "#1"#%#,'-& %+ #,+ $-+ 7*A/"-+ T?+#$+ 1"*(#"+ . (1 ,#,'#+ 1 &"9-+ %#"+ *,'#"1"#'-& + . ( + . $/%*0,+ #,'"#+1" =##& "+;+. (1"-& "+gGCDh<+H "+ '" +$-& ?+#$+%#A/,& +. (1 ,#,'#+#%+(E%+.#".-, +-+$-%+=-"*-!$#%+-% .*-&-%+-+$-+. $/%*0,+#,'"#+1" =##& "#%<+8%'-+ "#1"#%#,'-.*0,+ , %+ &-+ /,-+ *&#-+ &#+ .0( + -A"/1-"+ $-%+ =-"*-!$#%+&#+ $-+ (-,*7#%'-.*0,+ &#+ . $/%*0,+ #,+ & %+ A"-,&#%+ A"/1 %+ g1"*,.*1-$#%+. (1 ,#,'#%h+ 1-"-+ !'#,#"+ -%9+ (-; "#%+ "#%/$'-& %<+ H "+ $ + '-,' ?+-A"#A-( %+ & %+ . $/(,-%+ 7*,-$#%+ @/#+ . ,'*#,#,+ #%-%+ "#A"#%* ,#%+ &#+=-"*-!$#%+#,&*#,'#%<
II.2. Descripción de datos8,+ #%'-+ %#..*0,+ &#%."*!*"#( %+ $-%+ .*7"-%+ -A"#A-&-%+ -,-$*P-&-%+ #,+ #%'#+& ./(#,' <+bE%*.-(#,'#?+*$/%'"-( %+. ,+-$A/,-%+'-!$-%+$-+*,7 "(-.*0,+% !"#+#$+(#".-& +&#+. (1"-%+12!$*.-%+@/#+%#+"#$-.* ,-+. ,+$-+. $/%*0,<+I %+A"/1 %+-A"#A-& %+% ,+%#.' "+1" &/.'*= ?+"#A*0,?+'-(-S +&#+#(1"#%-+;+1 %*!*$*&-&+&#+$-+%/!. ,'"-'-.*0,<
[! ;"(!0*! /'-60'! )"6/"(0(&0! /'-()-/#*9! 0\/*-)#6"%!0*! H@]!+0! *#! .#'-#)-1(?!^*! -()*$-'! *"%! /'-60'"%! <!%08$(+"%!)"6/"(0(&0%9!0\/*-)#6"%!0*!GY]!+0!0%&#!.#'-#)-1(?
JUA
N F
RA
NC
ISC
O M
AR
TÍN
EZ
S. /
DA
VID
ES
CO
BA
R /
CL
AU
DIO
LO
YO
LA
M_^
Derecho PUCP, N° 66, 2011 / ISSN 0251-3420
Tabla 4
W57&-H-(2&$2(1&
V344Z$6(.2
V(PP&-&5,&$*.;Q&'*)$H-(,&
G&d$9-/'$*d*-.&.$*7$A27
We,&22('&$.(PP&-&5,&$$*.;Q&'*)$H-(,&$^,*2&2`
bma ^M?Te T\?_e [?Me X?[e
+ TW\?Me XT?We \?Me T^?[e
F8DmUF M_?Xe T\?[e T?\e T?We
+ T^[?_e X[?_e TX?Te TM?Te
Fm4dG M\?^e O?Oe T[?Oe T?Xe
+ TT_?Me T\?We M[?Ne T[?Ne
)FLII ^[?^e TX?[e X?^e T?Ne
+ TMT?[e X[e T\e TMe
6 '-$ M_?^e T[?We ^?Me T?Oe
+ T?^e T_?[e X[?Me TX?Oe
gnh+F#-,+7*"%'+" K?+%&++%#. ,&+" K?+-$$+&-'-+*%+1#".#,'-A#+ 7+'5#+' '-$<
%&K(/5V344Z$6(.2
V(PP&-&5,&$*.;Q&'*)$H-(,&
G&d$9-/'$*d*-.&.$*7$A27
We,&22('&$.(PP&-&5,&$$*.;Q&'*)$H-(,&$^,*2&2`
L,' 7-A-%'- M[?Ne _?Ne \?Xe [?_e
+ TT_?^e TN?_e XX?Xe _?\e
L"-/.-,9- XW?Ne T^?Xe M?Ne M?[e
+ TTW?Oe XT?_e T_?Te TW?Te
L"*.-+;+H-"*,-. '- XW?We T[?Oe ^?[e X?^e
+ NM?[e TN?We T_?Oe T\?^e
L'-.-(- MN?\e TT?Ne ^?Xe X?Te
+ TXN?^e X[?Me X[?Te T^?Me
L;%>, XO?^e TT?[e \?\e T?We
+ NM?Xe X[?\e XX?Ne TM?Te
b9 Cb9 MT?Ne TX?[e M?\e T?Oe
+ TTT?Xe X[?Te TN?Me TX?\e
4 @/*(! XN?Me ^?_e \?We [?\e
+ TXN?Te TX?_e XM?Te O?Ne
I*!<+a"-$<+b& <+Gck MW?Xe O?We ^?We [?Oe
+ TT\?Ne TM?^e XT?Xe N?[e
I %+I-A % MM?_e N?We \?^e T?Oe
+ TX[?We TN?[e XX?\e TX?Oe
I %+d9 % XN?Oe W?Me ^?^e [?Me
+ N_?^e T\?[e X[?\e \?Oe
F-A-$$-,#%+;+L,'E"'*.- MT?Ne W?Ne ^?Xe T?[e
+ T[\?\e TM?\e X[?Te T[?Te
F-/$# XW?^e N?Xe ^?Xe T?Xe
+ _^?Me TO?Ne X[?Te T[?_e
F#'" 1 $*'-,- O\?Te TT?^e X?Oe T?We
+ X^\?Oe T_?^e T\?Ne TM?[e
6-"-1-.E MM?^e T\?^e M?_e M?Me
+ T[[?Me XX?^e T_?Me TW?_e
-̀$1-"-9% M^?\e _?Xe M?Ne T?Xe
+ T^[?_e TW?Xe T_?[e T[?We
6 '-$ ^M?\e T[?We M?We T?Oe
+ TWM?Ne T_?[e TN?Ne TX?Oe
gnh+F#-,+7*"%'+" K?+%&++%#. ,&+" K?+-$$+&-'-+*%+1#".#,'-A#+ 7+'5#+' '-$<
Tabla 5
JUA
N F
RA
NC
ISC
O M
AR
TÍN
EZ
S. /
DA
VID
ES
CO
BA
R /
CL
AU
DIO
LO
YO
LA
SOBRE LOS DETERMINANTES DE LA COLUSIÓN EN LAS COMPRAS PÚBLICAS: EL CASO DE CHILE
THE DETERMINANTS OF COLLUSION IN PUBLIC PROCUREMENT: THE CASE OF CHILE
M_\
OO
Derecho PUCP, N° 66, 2011 / ISSN 0251-3420
Tabla 6
9/22(6()(7Z$/P$
236,/57-*,7(5K
V344Z$
6(.2
V(PP&-&5,&$
*.;Q&'*)$H-(,&
G&d$9-/'$$
*d*-.&.$*7$A27
We,&22('&$.(PP&-&5,&$$
*.;Q&'*)$H-(,&$^,*2&2`
i + ^Oe TTe ^e Xe
+ TNMe T_e T_e TMe
f#% M[e T[e ^e Te
+ TX[e TNe T_e TXe
6 '-$ ^^e TTe ^e Xe
+ TW^e T_e T_e TMe
gnh+F#-,+7*"%'+" K?+%&++%#. ,&+" K?+-$$+&-'-+*%+1#".#,'-A#+ 7+'5#+' '-$<
W57&-H-(2&$2(1&V344Z$6(.2
V(PP&-&5,&$*.;Q&'*)$H-(,&
G&d$9-/'$*d*-.&.$*7$A27
We,&22('&$.(PP&-&5,&$$*.;Q&'*)$H-(,&$^,*2&2`
V &+!#=#"-A# TOe X\e Me We
+ W^e XWe TWe XOe
V/#$+$/!"*.-,' TWe TXe Xe Me
+ O_e XTe TMe TOe
F-,/7-.'/"*,A+. (1+o+%/11 X\e TTe Te [e
+ OXe T\e T[e [e
8$#.'" ,*.+. (1+o+%/11 MNe X[e Xe Me
+ _[e T_e TXe TOe
4 ,%'"/.'* ,+F-,/7+. (1+o+%/11 XWe XXe Me Xe
+ WWe X^e TWe TOe
8&/.-'* ,+o+'"-*,*,A+%#"=*.#% X\e Te TXe [e
+ T[[e Oe MMe [e
H"*,'*,A?+L/&* ?+ *̀%/-$+#@+o+%/11 MXe TMe Te Te
+ _Me XXe _e TTe
G77*.#+-..+o+%/11 __e XTe Te Me
+ M^_e X^e We TOe
F#&*.-$+#@?+-..+o+%/11 WTe XMe Te Xe
+ T_Ne XTe T[e TXe
I-! "-' ";+#@ O[e T_e Te Xe
+ TN[e XXe _e T^e
H/!$*.+#,%#?+%-7#';+#@+o+%/11 \Ne X^e Xe Me
+ T^Me XMe TMe TOe
4$#-,*,A+#@+o+%/11 WOe TOe Te Te
+ TN_e XXe _e Ne
)1 "'%+#@?+%/11+o+-.. \Me TNe Xe Xe
+ TX^e XMe T\e T^e
6 $%+o+A"-$+(-.5 ^[e XMe \e Oe
+ TXXe X^e XTe XMe
F/%*.-$+*,%'"?+A-(#%+o+#&/.+#@ M\e TXe Xe Te
+ _Oe XTe TMe _e
F*,*,A?+&"*$$*,A+(-.5+o+-.. T_e _e Oe Te
+ WNe TNe X^e TXe
m,&/%'"*-$+1" .#%%+(-.5+o+-.. M[e XXe ^e Xe
+ WOe X[e X[e TMe
V-"(?+7*%5?+7 "#%'";+(-.5+o+-.. T_e Ne Oe [e
+ \Xe TMe XMe [e
4 ,%'"/.'* ,?+!/*$&*,A+(-.5+o+-.. TNe XOe Me Me
+ \Me X\e TNe TOe
H K#"+A#,?+&*%'"?+(-.5+o+-.. \Xe XXe Me Me
+ TM[e XMe TWe TOe
F-'+5-,&$*,A?+%' "-A#?+(-.5+-..+o+%/11 ^Te XMe Me Xe
+ T[Oe XXe TWe TMe
)#"=*.#+m,&/%'"+(-.5?+#@+o+%/11 \_e T_e Me ^e
+ TX^e XOe TOe T_e
I*=#+1$-,'p-,*(-$+(-'?+-..+o+%/11 M^e TXe Ne Te
+ W\e TNe XWe T[e
Tabla 7
JUA
N F
RA
NC
ISC
O M
AR
TÍN
EZ
S. /
DA
VID
ES
CO
BA
R /
CL
AU
DIO
LO
YO
LA
M_O
Derecho PUCP, N° 66, 2011 / ISSN 0251-3420
H-1#"+(-'+o+1" &/.'% \Oe XXe Te ^e
+ TXTe XWe T[e X[e
F*,#"-$+o+'#:'*$#?+1$-,'+o+-,*(-$+(-' XOe T^e ^e Te
+ NMe T\e T_e We
H5-"(-.#/'*.-$+1" &/.'% T[^e X[e [e Xe
+ MW^e XTe ^e T\e
V/",*'/"#+-,&+V/",*%5*,A% \\e TWe Xe Te
+ T\\e X[e T^e TXe
D (#%'*.+-11$*-,.#%+o+-.. WXe XTe Te Xe
+ T\Xe XMe T[e T^e
G"A-,*P-'* ,%+o+.$/!% TTOe Te TXe [e
+ TTe \e MXe [e
H $*'*.%+-,&+4*=*.+L77-*"%+%#"= TMe Te Ne [e
+ NWe We XNe \e
H/!$*%5#&+H" &/.'% WWe TNe Xe Me
+ T__e XOe TMe TWe
q#K$#";+1" & We < We [e
+ XWe < XWe [e
45#(*.-$+1" & X^e T^e Te Te
+ WXe XMe Ne TXe
d/!!#"+(-' X[e XXe \e \e
+ ^\e XTe XMe XMe
b-AA-A#+e+1#"%+.-"#+1" & ^Oe T_e Te Xe
+ TMMe XMe TTe TMe
k#-$'5.-"#+)#"=*.#% TNe Me _e [e
+ TT^e T[e XNe Oe
V-"(?+7*%5?+7 "#%'";+. ,'"-.'+%#"= XOe Xe We [e
+ T_Me Ne X\e ^e
8,A*,##"*,A+o+"#%#-".5+%#"= WOe _e Me Te
+ T\Oe X[e TWe T[e
H/!$*.+/'*$*'*#%+o+1/!$*.+%#.' "+%#"= MTe T[e Te Te
+ _Te TOe T[e TTe
4 ,%'"/.'* ,+(-*,'#,-,.#+%#"= We [e T[e [e
+ ^\e ^e M[e [e
H#"% ,-$+-,&+D (#%'*.+%#"= X[e _e \e Te
+ NOe TWe XMe T[e
H/!$*.+#,%#?+%-7#';+%#"=*.#% TOe Oe ^e [e
+ \Xe TMe X[e [e
m,&/%'"*-$+4$#-,*,A+%#"= X^e XXe ^e Xe
+ WNe XMe X[e T\e
F*,*,A+-,&+ *$+-,&+A-%+%#"= M[e TXe Oe [e
+ _Te T^e XMe [e
m,&/%'"*-$+1" &+(-,/7+%#"= MWe T[e We Te
+ _Me TWe X\e TXe
6"-,%1 "'?+%' "-A#+o+(-*$+%#"= T^e [e TMe [e
+ ^[e [e MMe [e
6"-=#$?+7 &?+$ &A*,A+o+#,'#"'+%#"= X[e T^e \e Te
+ WMe TWe XXe _e
8&*' "*-$?+A"-15*.+o+7*,#+-"'+&#%*A, X\e _e Oe Xe
+ NTe TNe XMe T\e
V*,-,.*-$+o+*,%/"-,.#+%#"= M[e Ne Oe Xe
+ _Oe TNe X^e TMe
8,=*" ,(#,'-$+%#"= X[e T\e T[e Te
+ O_e XOe M[e TTe
b/%*,#%%?+(-,-A?+1" 77+o+-&(*,+%#"= XMe Me T[e Te
+ _\e T[e M[e We
D*%'"*!?+. ,&*'+%;%'#(%?+#@+o+. (1 MWe X[e Me Me
+ TXTe XXe TOe TNe
8$#.'"*.+%;%'#(%?+$*A5'+-..+o+%/11 M_e X^e Xe ^e
+ _Xe XWe TXe T_e
m6+!" -&.-%'+o+'#$#. (/,*.-'* , ^We TNe Te Te
+ T^Xe X[e TTe TTe
#̀5*.$#%?+-..?+. (1 X_e T[e Xe Te
+ TT^e TNe T^e Ne
6 '-$ ^^e TTe ^e Xe+ Xe T_e T_e TMe
gnh+F#-,+7*"%'+" K?+%&++%#. ,&+" K?+-$$+&-'-+*%+1#".#,'-A#+ 7+'5#+' '-$<
JUA
N F
RA
NC
ISC
O M
AR
TÍN
EZ
S. /
DA
VID
ES
CO
BA
R /
CL
AU
DIO
LO
YO
LA
SOBRE LOS DETERMINANTES DE LA COLUSIÓN EN LAS COMPRAS PÚBLICAS: EL CASO DE CHILE
THE DETERMINANTS OF COLLUSION IN PUBLIC PROCUREMENT: THE CASE OF CHILE
M_W
OO
Derecho PUCP, N° 66, 2011 / ISSN 0251-3420
II.3. Regresiones de colusión
II.3.1. El modelo 8B#./'-( %+ %*#'#+ . ,B/,' %+ &#+ "#A"#%* ,#%+ &#+ =-"*-!$#%+ #,&*#,'#%+,/.$#-"#%+gl+r+T?+X?+s?+Wh3
4 $$+lp*+r+!l+t+"+Bpl+u+Bp*+t+#+lp*
D ,&#+$-+.*(%*<!"$/")"&/%"&'"$"#1"#%#,'-+$-+. $/%*0,+-+'"-=>%+
J+ 4 $$+Tp*+L&B/&*.-&-+-$+1"*(#"+ 7#"#,'#+g[?Th
J+ 4 $$+Xp*+a-,-& "#%+"#1#'*& %+g.-,'*&-&+&#+$*.*'-.* ,#%+-&B/&*.-C&-%+1 "+$-+(*%(-+/,*&-&+&#+. (1"-%h
J+ 4 $$+ Mp*+G7#"'-%+ 7-$%-%+ g.-,'*&-&+&#+ 7#"'-%+(-; "#%+ + *A/-$#%+X+=#.#%+#$+1"#.* +-&B/&*.-& h
J+ 4 $$+^p*+D*%' "%* ,#%+&#+1"#.* ?+1"#.* %+-&B/&*.-& %+#:.#%*=-(#,C'#+-$' %+g. ( +1 ".#,'-B#+&#$+1"#.* +#%'*(-& h
J+ 4 $$+\p*+D*%' "%* ,#%+&#+1"#.* ?+1"#.* %+-&B/&*.-& %+#:.#%*=-(#,C'#+-$' %+g./-,& +4 $$+^p*+#%+(-; "+ +*A/-$+-+\[e<h
J+ 4 $$+Op*+H"*(#"+. (1 ,#,'#+1"*,.*1-$_+gGCDh
J+ 4 $$+Wp*+)#A/,& +. (1 ,#,'#+1"*,.*1-$+gGCGh
I-%+.*(%*<!"+$%&/")"&/%"&'"+$%#+&#%."*!#,+-+. ,'*,/-.*0,+gB+r+T?+s+N[h3
J+ uT+)/!. ,'"-'-.*0,+g[?Th
J+ uX+V#.5-+&#+1/!$*.-.*0,+g"#A*%'" %h
J+ uM+4-,'*&-&+&#+ 7#"'-%
J+ u^+4-,'*&-&+&#+1" =##& "#%+-&B/&*.-& %
J+ u\+L&B/&*.-.* ,#%+(2$'*1$#%+g[?Th
J+ uO+F ,' +' '-$+&#+$-+$*.*'-.*0,
J+ uW+H#@/#S-+#(1"#%-+g[?Th
J+ uN+F#&*-,-+#(1"#%-
J+ u_+a"-,+#(1"#%-
J+ uT[+D9-%+&#+&#.*%*0,
J+ uTT+8:.#% +&#+ 7#"'-%+gT+%*+#$+,2(#" +&#+ 7#"'-+v+r+_?+[h
J+ uTX+4-,'*&-&+&#+/,*&-&#%+&#+. (1"-%+&#$+ "A-,*%( +. (1"-& "+g.#,'"-$*P-.*0,h
J+ uTMCXO+ -̀"*-!$#%+7*.'*.*-%+A# A"E7*.-%+"#A* ,-$#%
Q! S"*#60(&0! /#'#! 0*! )#%"! 0(! _$0! -()*$-6"%! *#! )*#%-B-)#)-1(! +0! /'"+$)&"%! <! %0'.-)-"%?! A*! /'-60'!)"6/"(0(&0!/'-()-/#*!0%&#'`#!'0*#)-"(#+"!)"(!*#!)"*$%-1(!0(&'0!$(!/'".00+"'!<!$(!)"6/'#+"'!Uab:V9!6-0(&'#%!_$0!0*!%08$(+"!%0'`#!)"*$%-1(!0(&'0!/'".00+"'0%!UabaV?!S-(!065#'8"9!0%&#!+-%&-()-1(!("!0%&c!&"&#*60(&0!)*#'#?!,#!-(&0'/'0&#)-1(!%0'c!B-(#()-#+#!/"%&0'-"'60(&0?
JUA
N F
RA
NC
ISC
O M
AR
TÍN
EZ
S. /
DA
VID
ES
CO
BA
R /
CL
AU
DIO
LO
YO
LA
M_N
Derecho PUCP, N° 66, 2011 / ISSN 0251-3420
J+ uXW+6-(-S +&#+$-+$*.*'-.*0,+gT+%*+#%'E+&#,'" +&#$+"-,A +T[[CT[[[+U6FT[h
J+ uXN+6-(-S +&#+$-+$*.*'-.*0,+gT+%*+vT[[[+U6Fh
J+ uM[CN^+4$-%*7*.-.*0,+&#+1" &/.' + +%#"=*.* +g\\+Ui+,*=#$+Th
8B#./'-( %+/,-+%#"*#+&#+"#A"#%* ,#%+&#+7 "(-+"#&/.*&-TTQ+&*.5-%+"#A"#C%* ,#%+% ,+#,&*#,'#%+&#+$-%+.-"-.'#"9%'*.-%+&#+$-+=-"*-!$#+#,&*#,'#<+)*+$-+=-"*-!$#+, +#%+!*,-"*-?+%*(1$#(#,'#+#B#./'-( %+"#A"#%* ,#%+F4G+-$+"#. 1*$-"+' & %+$ %+&-' %+&*%1 ,*!$#%<+H "+#$+. ,'"-"* ?+%*+$-+=-"*-!$#+#%+!*,-"*-?+#B#./'-( %+H" !*'+;+I A*'+1-"-+. (1-"-"+.0( +-(! %+( &#$ %+.-$P-,+. ,+$ %+&-' %<
8%'#+'*1 +&#+(#' & $ A9-+#%'E+#,+$9,#-+. ,+$-+$*'#"-'/"-+(E%+"#.*#,'#TX<+I-+(-; "9-+&#+$ %+( &#$ %+% ,+!-%'-,'#+,/#= %+;+!/%.-,+&#'#.'-"+1-C'" ,#%+%/'*$#%+#,+$ %+&-' %<+i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
@F!S0!&'#&#!+0!*#!D(-+#+!R'-5$&#'-#!20(%$#*9!)"(!$(!.#*"'!#/'"\-6#+"!+0!DSd!dGZ!#!+-)-065'0!+0!CFF[?@@!3"+'`#6"%! =#50'! 0%&-6#+"! $(!6"+0*"! 0%&'$)&$'#*?! A%&"! '0%"*.0'`#! /'08$(&#%! '0*#)-"(#+#%! )"(! 0*!
)#'c)&0'!1/&-6"!+0!*"%!/'0)-"%!+0!'0%0'.#!"!*"%!/'0)-"%!-(B*#+"%!-6/$0%&"%!/"'!*"%!"B0'0(&0%?!:0e#6"%!0%&0!&-/"!+0!0%&-6#)-1(!/#'#! -(.0%&-8#)-"(0%!B$&$'#%!/"'!+"%!'#f"(0%!/'-()-/#*0%X!/'-60'"9!($0%&'"!#(c*-%-%! %0! )0(&'#! 0\)*$%-.#60(&0! 0(! 0*! #%/0)&"! +0! *#! )"*$%-1(g! %08$(+"9! *#! (#&$'#*0f#! +0! )"'&0!&'#(%.0'%#*!+0!($0%&'"%!+#&"%!<!*#!)"6/*0e-+#+!+0*!0(&"'("!+0!*#!80(0'#)-1(!+0!+#&"%!%$8-0'0(!0.-&#'!$(!0(B"_$0!0%&'$)&$'#*!)"6/*0e"?
@C!;"6"!0(!7):)+-9!3#&'-)I!<!J#''0&!20,,'+2?! K:0&0)&-(8!)"**$%-"(! -(!/'")$'060(&!#$)&-"(%L9!CFFC9!0(&'0!"&'"%?
JUA
N F
RA
NC
ISC
O M
AR
TÍN
EZ
S. /
DA
VID
ES
CO
BA
R /
CL
AU
DIO
LO
YO
LA
SOBRE LOS DETERMINANTES DE LA COLUSIÓN EN LAS COMPRAS PÚBLICAS: EL CASO DE CHILE
THE DETERMINANTS OF COLLUSION IN PUBLIC PROCUREMENT: THE CASE OF CHILE
M__
OO
Derecho PUCP, N° 66, 2011 / ISSN 0251-3420
Tab
la 8
$
^A`
^D`
^?`
^B`
^M`
^=`
^C`
^<`
^E`
$*7A27fH-/
*7A27f)/K(
-&H&*7&.f
.344Z6(
.(PPf/)2
&.(PPfH-/
&.(PPf)/K
8_8
8_V
)/!. ,'"-'-.*0,+g[?Th
[<[[T
[<[OM
T?W_[
[<[T[
C[<[TX
C[<[[X
C[<TW[
[<[\^
C[<[MW
+g[<NOh
gT<T[h
gX<_\hnnn
g[<\_h
gT<^[h
g[<_Oh
g[<_\h
gT<^Th
gT<[Th
V#.5-+&#+1/!$*.-.*0,+gw+&#+$ A%h
C[<XX^
CTT?_W[
\X?XTO
X?N\_
C[<OMN
C[<T\O
CTT?WT^
C[<^N_
T?NMT
+gW<MOhnnn
gW<^Nhnnn
gM<XMhnnn
gO<O^hnnn
gX<\\hnn
gX<^^hnn
gX<MOhnn
g[<^\h
gT<W^hn
4-,
'*&-&+&#+ 7#"'-%
C[<[[T
C[<[WW
C[<^XO
[<[MX
[<[[T
C[<[[[
C[<[TT
[<[T\
[<[M[
+gO<WNhnnn
gW<TXhnnn
gW<T^hnnn
gT_<W_hnnn
g[<\Th
g[<\Th
g[<^\h
gX<^Thnn
g\<[Nhnnn
4-,
'*&-&+&#+1" =##& "#%+-&B/&*.-& %
[<[[T
[<[OO
T?M^T
C[<[XW
C[<[[T
C[<[[M
C[<XM[
C[<[^_
C[<[NT
+gM<O^hnnn
g^<X[hnnn
gT[<_Xhnnn
gN<T\hnnn
g[<[^h
g[<O_h
g[<ONh
gX<[Nhnn
gM<OThnnn
L&B/&*.-.* ,#%+(
2$'*1$#%+g[?Th
C[<[[^
C[<XT\T
[<OM[
C[<X__
++
+[<X_W
C[<T_W
+gM<XWhnnn
gX<_^hnnn
gTO<M[hnnn
++
+gTW<[Whnnn
g^<T^hnnn
gX<NOhnnn
F ,' +' '-$+$*.*'-.*0,+g$ A%h
[<[[T
[<[ON
C[<TMX
C[<T\\
[<[[[
[<[[^
[<M[O
C[<[MM
C[<T[O
+g^<^Xhnnn
gM<N\hnnn
g[<NTh
gM\<TWhnnn
g[<[Oh
g^<\_hnnn
g^<OMhnnn
gX<TWhnn
gW<XOhnnn
H#@/#S-+#(
1"#%-+g[?Th
C[<[T\
C[<W_T
T?_^T
C[<[TW
[<[XM
[<[[M
[<XX[
[<TN_
C[<[MO
+gXN<WNhnnn
gXW<[^hnnn
gO<OMhnnn
gX<TNhnn
g\<\_hnnn
gX<^Thnn
gX<\\hnn
gT[<[^hnnn
gX<[Thnn
F#&*-,-+#(
1"#%-+g[?Th
C[<[TX
C[<O_^
X?MMO
C[<[XT
[<[XM
[<[[T
[<[_O
[<TOM
C[<[M^
+gXM<XNhnnn
gX[<W\hnnn
g_<OThnnn
gM<X[hnnn
g\<NNhnnn
gT<T\h
gT<XOh
g_<MThnnn
gX<[[hnn
a"-,+#(1"#%-+g[?Th
C[<[T\
C[<_^MT
[<T_O
C[<[X[
[<[TN
[<[[T
[<TT_
[<T__
C[<[WN
+gXW<N[hnnn
gXX<NXhnnn
gOO<[Mhnnn
g^<WMhnnn
gW<MXhnnn
gX<X_hnn
gX<^_hnn
gTN<TMhnnn
gW<^[hnnn
D9-%+&#+&#.*%*0,
[<[[[
[<[[M
C[<\OW
[<[[O
[<[[T
[<[[[
[<[TT
[<[[\
[<[[O
+g[<O_h
g[<\Mh
gTT<_Ohnnn
g^<WWhnnn
gT<T^h
g[<WOh
g[<_Xh
gT<W^hn
gT<_Whnn
8:.#% +&#+ 7#"'-%+gT+%*+$-+.-,
'*&-&+&#+ 7#"'-%+v
_h
C[<[[X
C[<[^[
X?_\T
[<^TT
[<[[^
C[<[[[
C[<[^X
[<[[\
[<[^_
+gT<[Nh
g[<M\h
gM<W[hnnn
gT_<X\hnnn
g[<XXh
g[<TXh
g[<T^h
g[<[Wh
g[<O_h
JUA
N F
RA
NC
ISC
O M
AR
TÍN
EZ
S. /
DA
VID
ES
CO
BA
R /
CL
AU
DIO
LO
YO
LA
^[[
Derecho PUCP, N° 66, 2011 / ISSN 0251-3420
$^A`
^D`
^?`
^B`
^M`
^=`
^C`
^<`
^E`
$*7A27fH-/
*7A27f)/K(
-&H&*7&.f
.344Z6(
.(PPf/)2
&.(PPfH-/
&.(PPf)/K
8_8
8_V
4-,
'*&-&+&#+/,*&-&#%+&#+. (1"-+&#$+ "A-,
*%(
C[<[[[
C[<[[X
C[<[W[
C[<[[T
[<[[[
[<[[[
[<[[M
[<[[T
C[<[[[
+g^<T\hnnn
g^<\Whnnn
gTN<TMhnnn
gO<NOhnnn
gO<\Mhnnn
gX<W^hnnn
gX<N^hnnn
gM<^Thnnn
g[<XWh
6-"-1-.E+g[?Th
[<[[T
[<[O^
O?^TW
[<[[X
C[<[XN
C[<[[W
C[<W\W
C[<[X\
[<XX[
+g[<M[h
g[<XOh
gX<NMhnnn
g[<[^h
g[<_Th
gT<^Oh
gT<^Wh
g[<TNh
gT<O\hn
L,' 7-A-%'-++g[?Th
[<[TM
[<\XN
X?^M[
C[<[^O
C[<[^N
C[<[TT
CT?\\_
C[<X^^
[<[TW
+gX<X_hnn
gX<MThnn
gT<[_h
g[<WOh
gT<O^h
gX<NMhnnn
gX<W\hnnn
gT<W_hn
g[<TMh
L'-.-(-++g[?Th
[<[[^
[<XMO
T?OMM
[<[T_
C[<[OX
C[<[TT
CT?\OO
C[<XTX
[<[XT
+g[<WOh
g[<_Wh
g[<W[h
g[<MTh
gX<[Thnn
gX<^Ohnn
gX<MThnn
gT<\Th
g[<T\h
4 @/*(
! ++g[?Th
[<[T_
[<W[O
C[<X_X
C[<[TM
C[<[N_
C[<[TT
CT?NXT
C[<MO_
[<[WN
+gM<TOhnnn
gM<T[hnnn
g[<TXh
g[<XTh
gX<WNhnnn
gX<^Whnn
gX<M[hnn
gX<\[hnn
g[<\\h
-̀$1-"-9% ++g[?Th
[<[[\
[<XWT
TT?T[T
C[<[[X
C[<[\X
C[<[TT
CT?TO[
C[<[OT
C[<[MT
+gT<T_h
gT<XNh
g\<O^hnnn
g[<[^h
gX<[\hnn
gX<NWhnnn
gX<N^hnnn
g[<\Mh
g[<XNh
F#'" 1 $*'-,-++g[?Th
[<[[M
[<TNM
TN?OXO
[<T\N
C[<[^X
C[<[TT
C[<_[\
C[<T[M
C[<[[O
+g[<_[h
g[<_[h
g_<_[hnnn
gM<TMhnnn
gT<WOhn
gX<^Xhnn
gX<^Nhnn
g[<_^h
g[<[\h
Gck
*AA*,%++g[?Th
[<[[_
[<MWO
CX?^[N
[<[TM
C[<[_M
C[<[TX
CT?WXN
C[<T_N
[<T\W
+gT<NXhn
gT<WXhn
gT<TMh
g[<X^h
gM<M_hnnn
gM<T_hnnn
gM<[^hnnn
gT<\Wh
gT<X_h
F-/$#++g[?Th
[<[TX
[<\TO
X?X\X
C[<TM\
C[<[\_
C[<[T[
CT?TT^
C[<T\[
C[<[[\
+gX<MWhnn
gX<MOhnn
gT<[Wh
gX<^[hnn
gX<TMhnn
gX<MThnn
gX<XMhnn
gT<TNh
g[<[^h
b9 Cb9 ++g[?Th
[<[[^
[<T__
O?[WM
C[<[W_
C[<[T_
C[<[[_
C[<NO[
C[<TT\
C[<[[X
+g[<_[h
g[<_\h
gM<TThnnn
gT<\Th
g[<W^h
gX<X\hnn
gX<X[hnn
g[<__h
g[<[Xh
L"-/.-,9-++g[?Th
[<[[\
[<X\X
C[<[M^
C[<[\M
C[<[[X
C[<[[T
C[<[MO
C[<[^M
[<[_^
+gT<TNh
gT<TOh
g[<[Xh
g[<_Oh
g[<[_h
g[<T_h
g[<T[h
g[<MWh
g[<N^h
JUA
N F
RA
NC
ISC
O M
AR
TÍN
EZ
S. /
DA
VID
ES
CO
BA
R /
CL
AU
DIO
LO
YO
LA
SOBRE LOS DETERMINANTES DE LA COLUSIÓN EN LAS COMPRAS PÚBLICAS: EL CASO DE CHILE
THE DETERMINANTS OF COLLUSION IN PUBLIC PROCUREMENT: THE CASE OF CHILE
^[T
OO
Derecho PUCP, N° 66, 2011 / ISSN 0251-3420
$^A`
^D`
^?`
^B`
^M`
^=`
^C`
^<`
^E`
$*7A27fH-/
*7A27f)/K(
-&H&*7&.f
.344Z6(
.(PPf/)2
&.(PPfH-/
&.(PPf)/K
8_8
8_V
I %+d9 %++g[?Th
[<[T^
[<\M^
CO?OT[
C[<[N[
C[<[N^
++
C[<MW[
C[<[M_
+gX<XOhnn
gX<TNhnn
gX<OMhnnn
gT<X[h
gX<TXhnn
++
gT<__hnn
g[<XXh
I %+I-A %++g[?Th
[<[T^
[<\\_
C\?O_\
C[<[[W
C[<[\^
C[<[[_
C[<_XN
C[<TTW
[<T\\
+gX<W^hnnn
gX<O\hnnn
gX<N[hnnn
g[<TMh
gX<[Thnn
gX<T^hnn
gX<[Whnn
g[<_\h
gT<MXh
F-A-$$-,#%++g[?Th
[<[[_
[<MN\
[<NWT
[<[[O
C[<[NX
C[<[T[
CT?MO\
C[<XMX
C[<T[N
+gT<OWhn
gT<\Nh
g[<MWh
g[<[_h
gX<\Mhnn
gX<MXhnn
gX<XMhnn
gT<OTh
g[<WNh
L;%>,++g[?Th
[<[TM
[<\\X
C^?__W
C[<[N[
C[<[[N
C[<[[W
C[<\__
C[<TNT
[<[[\
+gX<^[hnn
gX<^Xhnn
gX<T\hnn
gT<XNh
g[<XOh
gT<M_h
gT<XWh
gT<M\h
g[<[^h
6-(
-S +&#+$*.*'-.*0,+gT+%*+#%+#,'"#+T[[CT[[[+U6Fh
[<[[M
[<TM_
CW?XNM
[<TW
OC[<[M_
C[<[T_
CT?M^X
C[<TMX
[<[^[
+gX<OXhnnn
gX<X\hnn
gTT<O^hnnn
gT[<^Nhnnn
gM<W^hnnn
gO<MOhnnn
gO<^Mhnnn
gX<WWhnnn
g[<NWh
6-(
-S +&#+$*.*'-.*0,+gT+%*+v+T[[[+U6Fh
[<[[X
[<T[\
CO?TNO
[<X__
C[<[M_
C[<[T^
CX?T[^
C[<T^M
[<XOT
+gT<[Oh
g[<NOh
g\<XXhnnn
g_<^Thnnn
gT<NWhn
g\<[^hnnn
g\<[Ohnnn
gT<^_h
gX<NMhnnn
4 #7*.*#,'#+&#+=-"*-.*0,+g 7#"'-%+%'&#=p(
#&*-h
[<[[^
[<XMX
X?X^_
[<\O[
[<[XN
[<[[O
[<^TO
[<MM\
[<\N\
+g\<[_hnnn
g\<TMhnnn
g^<OXhnnn
g^X<_\hnnn
gM<[\hnnn
gX<_Thnnn
gX<N[hnnn
gN<X\hnnn
gT\<[Xhnnn
4 ,%'-,
'#+
TTM<WON
C^__<OW^
CXO<O_N
O<MMN
+T[N<OWX
^<\M[
CTW<TON
++
gW<X_hnnn
gM<TWhnnn
gO<MOhnnn
gX<O[hnnn
+gX<X\hnn
g[<^Xh
gT<ONhn
G!%#"=-.* ,#%
OM\NO
OM\NO
OMT_\
OM\NO
MXOT
T\^\\
T\^\\
M\_[
M\_[
dC./-&"-&
++
[<TM
[<TT
[<[N
++
[<TW
[<T\
JUA
N F
RA
NC
ISC
O M
AR
TÍN
EZ
S. /
DA
VID
ES
CO
BA
R /
CL
AU
DIO
LO
YO
LA
^[X
Derecho PUCP, N° 66, 2011 / ISSN 0251-3420
=-"*-!$#+#,&*#,'#+#%+$-$/%C"("&1%*$"&'("$"!$)("1%,$*/=-/%1*/,$?$"!$)("1%,$"+'%:*/,?+. ( +/,+1 ".#,'-B#+&#$+1"#.* +#%'*(-& +&#$+!*#,+ +%#"=*.* <+I-+%#:'-+. $/(,-+(*&#+$-+. $/%*0,+. ( +$-+"#1"+%.*$/%C"("&1%*$"&'("$"!$)("1%,$"+'%:*/,$?$"!$)("1%,$*/=-/%1*/,Q+$-+=-"*-!$#+#%'-!$#.#+/,+=-$ "+&#+YTZ+%*+$-+&*7#"#,.*-+&#$+1 ".#,'-B#+&#+$-+@/*,'-+. $/(,-+#%+(-; "+-+/,+\[e+&#+$ +#%'*(-& <
F/.5 %+&#+ $ %+ "#%/$'-& %+ #%'E,+!-%'-,'#%+ "#$-.* ,-& %+ -+ $-+ *,'/*.*0,+#. ,0(*.-Q+, + !%'-,'#?+-$A/, %+"#@/*#"#,+/,-+%#A/,&-+. ,%*&#"-.*0,?+1"*,.*1-$(#,'#+1 "+#$+#7#.' +&#+$-%+(2$'*1$#%+=-"*-!$#%+%*(/$'E,#-%<
II.3.2. Resultados de columnas I %+. #7*.*#,'#%+&#+ $-+1"*(#"-+;+ %#A/,&-+. $/(,-+g-+Tx+H" !*'+;+I CA*'h+*(1$*.-,+@/#+#%'#+'*1 +&#+7#,0(#, +&#+. $/%*0,+#%+&#."#.*#,'#+#,+#$+'*#(1 <+L%*(*%( ?+*(1$*.-,+@/#+$-%+#(1"#%-%+(E%+1#@/#S-%+'*#,#,+(E%+1" !-!*$*&-&#%+&#+#%'-"+-% .*-&-%+-+$-+. $/%*0,+#,'"#+1" =##& "+;+. (1"-& "+gGCDh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
I-+'#".#"-+. $/(,-+#:-(*,-+$-+#:*%'#,.*-+&#+. $/%*0,+& ,&#+#$+1" =##C& "+#%+-&B/&*.-& +"#1#'*&-(#,'#+1 "+$-+(*%(-+/,*&-&+&#+. (1"-%<+8%' +1/#&#+#%'-"+"#$-.* ,-& +. ,+-(! %+'*1 %+&#+. $/%*0,3+#,'"#+1" =##& C"#%?+ +#,'"#+1" =##& "+;+. (1"-& "<+)*,+#(!-"A ?+&-& +,/#%'" +-,E$*%*%+-,'#"* "+&#+$ %+. (1 ,#,'#%+1"*,.*1-$#%?+#%' +1" !-!$#(#,'#+'*#,#+@/#+=#"+(E%+. ,+$-+. $/%*0,+gGCGh<+i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
@H!;"6"!*#!%$5)"(&'#&#)-1(!+0!*#!)"6/0&0()-#!/#'#!")$*&#'!$(!#)$0'+"!-*`)-&"?
JUA
N F
RA
NC
ISC
O M
AR
TÍN
EZ
S. /
DA
VID
ES
CO
BA
R /
CL
AU
DIO
LO
YO
LA
SOBRE LOS DETERMINANTES DE LA COLUSIÓN EN LAS COMPRAS PÚBLICAS: EL CASO DE CHILE
THE DETERMINANTS OF COLLUSION IN PUBLIC PROCUREMENT: THE CASE OF CHILE
^[M
OO
Derecho PUCP, N° 66, 2011 / ISSN 0251-3420
/,*&-&#%+&#+. (1"-%+#,+#$+ "A-,*%( +. (1"-& "<+8%' %+5#.5 %+%#+#:1$*C.-,+1 "@/#?+-+(-; "+.-,'*&-&+&#+ 7#"'-%?+(#B "+%#"E+$-+. (1#'#,.*-?+;?+-+(-; "+.-,'*&-&+&#+/,*&-&#%+&#+. (1"-%?+(#B "+%#"E+$-+.#,'"-$*P-.*0,+&#+$-+/,*&-&+&#+. (1"-%?+@/#+&#!#+1" ./"-"+/,+. ,'" $+(E%+#%'"*.' <
I-+./-"'-+. $/(,-+#%'E+=*,./$-&-+-+ $-+. $/%*0,+#,'"#+1" =##& "#%+gGCGh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
I-%+ . $/(,-%+ @/*,'-?+ %#:'-+ ;+ %>1'*(-?+ "#%1#.'*=-(#,'#?+ #:1$*.-,+ $-%+&*7#"#,.*-%+#,'"#+1"#.* %+-&B/&*.-& %+;+#%'*(-& %+1 "+/,+1 ".#,'-B#+ +/,-+=-"*-!$#+7*.'*.*-<+y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g. $/(,-%+\?+O+;+Wh<+8%' +%#+1 &"9-+#:1$*.-"+1 "@/#+$-%+*,%'*'/.* ,#%+.#,'"-$*P-&-%+;+(E%+A"-,&#%?+. ,+(/.5-%+/,*&-&#%+&#+. (1"-%+;+A-%' %?+#%'E,+(E%+#:1/#%'-%+-+%/7"*"+. $/%*0,+gGCGh+#,+'>"(*, %+&#+&*7#"#,.*-%+#,+$ %+1"#.* %?+.$-"-(#,'#+&#!*& +-$+5#.5 +&#+@/#?+(*#,'"-%+(E%+A"-,&#+%#-+/,+ "A-,*%( ?+'#,&"E+
JUA
N F
RA
NC
ISC
O M
AR
TÍN
EZ
S. /
DA
VID
ES
CO
BA
R /
CL
AU
DIO
LO
YO
LA
^[^
Derecho PUCP, N° 66, 2011 / ISSN 0251-3420
(E%+1" .#% %+&#+$*.*'-.*0,+@/#+1/#&#,+%#"+ 1 "'/,*&-&#%+&#+ !'#,#"+&*C,#" +#:'"-+1-"-+' & +'*1 +&#+#(1"#%-%?+#%1#.*-$(#,'#+1-"-+$-%+A"-,&#%<
G'" +5#.5 +, '-!$#+#%+@/#+$-+1"#%#,.*-+&#+/,+%/!. ,B/,' +&#+1" !$#C(-%+&#+. $/%*0,+g. $/(,-%+T?+X+;+^h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
V*,-$(#,'#?+#$+#7#.' +A# A"E7*. +#%+1 . +-(!*A/ 3+$-%+ $*.*'-.* ,#%+% ,+(E%+%/%.#1'*!$#%+-+$-+. $/%*0,+gGCDh+./-,& +$-+"#A*0,+#%'E+(E%+&*%'-,'#+&#$+.#,'" +&#$+1-9%<+H "+#$+. ,'"-"* ?+$-+. $/%*0,+gGCGh+#%+(E%+7-.'*!$#+#,+#$+.#,'" +#$+1-9%+R.#".-+&#+$ %+1 $ %+&#+&#%-"" $$ R<+8%'#+#7#.' +#%+(*:' +./-,& +$-+. $/%*0,+gGCGh+A#,#"-+&*7#"#,.*-%+#,+$ %+1"#.* %<
II.4. Análisis y especificaciones alternativos8,+#$+. ,B/,' +-,'#"* "+&#+"#A"#%* ,#%?+A#,#"-$(#,'#+%#+(-,'/=*#" ,+$ %+"#%/$'-& %+1"#=* %<+F#B "-( %+/,-+1-"'#+&#+$-+=-"*-!*$*&-&+-$+%/(-"+(E%+=-"*-!$#%+#:1$*.-'*=-%<+H#" +$-+(-; "+(#B "-+"-&*.-+#,+@/#+-@/9+%#+1/#&#+ !%#"=-"+./E$#%+&#+$ %+"/!" %+ +%#.' "#%+&#+,#A .* %+#%'E,+(E%+-7#.'-& %+1 "+@/>+'*1 %+&#+. $/%*0,<
#̀( %?+-$+*A/-$+@/#+#,+$-%+ 1*,* ,#%+;+5-$$-PA %+&#+$ %+1"-.'*.-,'#%?+@/#+$ %+1"*,.*1-$#%+"/!" %+@/#+1"#%#,'-,+. $/%*0,+% ,+(-'#"*-$#%+;+%#"=*.* %+&#+. ,%'"/..*0,?+%#"=*.* %+&#+. ,%/$' "9-+#&/.-.* ,-$+;+-&(*,*%'"-'*=-?+;+#@/*1 %+7-"(-.>/'*. %?+(>&*. %+;+&#+$-! "-' "* ?+#,'"#+ '" %<+8,+$ %+%*A/*#,'#%+1E""-7 %+&#%."*!*"#( %+#,+(-; "+&#'-$$#+#%' %+"#%/$'-& %<
8,+1"*(#"+ $/A-"?+1-"-+ $*.*'-.* ,#%+#,+@/#+/,+1" =##& "+,/#= +#%+-&CB/&*.-& + -$+ 1"#%#,'-"+ %/+ 1"*(#"-+ 7#"'-+ g. $/(,-%+ T+ ;+ Xh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
8,+%#A/,& +$/A-"?+1-"-+#$+'*1 +&#+. $/%*0,+#,+@/#+#$+A-,-& "+#%+#:'"#C(-&-(#,'#+-7 "'/,-& +g. $/(,-+Mh?+$ %+"/!" %+(E%+-7#.'-& %+% ,+*,C%/( %+&#+. ,%'"/..*0,+;+-!-%'#.*(*#,' Q+#@/*1 %+;+-..#% "* %+(>&*. %Q+
JUA
N F
RA
NC
ISC
O M
AR
TÍN
EZ
S. /
DA
VID
ES
CO
BA
R /
CL
AU
DIO
LO
YO
LA
SOBRE LOS DETERMINANTES DE LA COLUSIÓN EN LAS COMPRAS PÚBLICAS: EL CASO DE CHILE
THE DETERMINANTS OF COLLUSION IN PUBLIC PROCUREMENT: THE CASE OF CHILE
^[\
OO
Derecho PUCP, N° 66, 2011 / ISSN 0251-3420
Tab
la 9
+^A`
*7A27fH-/6(7
^D`
*7A27f)/K(7
^?`
-&H&*7&.f/)2
^B`
.344Z6(.2f/)2
^M`
.(PPf/)2
^=`
&.(PPfH-/6
^C`
&.(PPf)/K
^<`
8_8$,/4H/5&57
^E`
8_V$,/4H/5&57
+ )/!. ,'"-'-.*0,+g[?Th
[<[[[
[<[MO
C[<MXM
[<[[X
C[<[[O
C[<[[T
C[<TTW
C[<[X[
[<[[X
+g[<^Wh
g[<WNh
g[<ONh
g[<TWh
gT<TXh
g[<NWh
g[<W^h
g[<W^h
g[<[Wh
V#.5-+&#+1/!$*.-.*0,+gw+&#+$ Ah
C[<XTO
CT[<XN\
\X<O^N
X<TTW
C[<\[X
C[<TX^
CT[<_^X
CT<T\_
[<W^O
+gW<O[hnnn
gW<NXhnnn
g^<T[hnnn
gO<TNhnnn
gX<_Mhnnn
gX<O_hnnn
gX<\[hnn
gT<^^h
gT<[Oh
4-,
'*&-&+&#+ 7#"'-%
C[<[[T
C[<[WX
C[<^NN
[<[^X
[<[[T
[C[<[TO
[<[XW
[<[^W
+gW<O_hnnn
gW<NWhnnn
g_<^Nhnnn
gM[<TNhnnn
gX<[^hnn
g[<O^h
g[<OWh
g\<\Whnnn
gTT<X\hnnn
4-,
'*&-&+&#+1" =##& "#%+-&B/&*.-& %
[<[[T
[<[W^
T<[TM
C[<[X[
C[<[[_
C[<[[^
C[<MOT
C[<[OM
C[<[\_
+g^<^_hnnn
g\<[Mhnnn
g_<\^hnnn
gO<N\hnnn
g[<WTh
gT<TMh
gT<X_h
gM<[Xhnnn
gM<XMhnnn
L&B/&*.-.* ,#%+(
2$'*1$#%+g[?Th
C[<[[T
C[<[T[
M<X^^
C[<T[X
++
+[<X[^
[<[[N
+g[<^_h
g[<T^h
g\?WThnnn
gO<W[hnnn
++
+gM<X[hnnn
g[<T^h
F ,' +' '-$+$*.*'-.*0,+g$ A%h
[<[[[
[<[T[
C[<MXM
C[<TT_
[<[[N
[<[[^
[<MN\
[<[[O
C[<[MO
+gT<M\hn
g[<WWh
gX?O\hn
gMO<M[hnnn
g^<WOhnnn
gO<MXhnnn
gO<^Nhnnn
g[<W^h
g\<[Nhnnn
H#@/#S-+#(
1"#%-+g[?Th
C[<[T^
C[<O\O
[<OTT
C[<[TX
[<[[_
[<[[X
[<TT_
[<TMT
C[<[^M
+gXN<WWhnnn
gXW<M^hnnn
gX?OThnn
gT<__hnn
gM<M[hnnn
gT<^Xh
gT<OTh
g_<WOhnnn
gM<O_hnnn
F#&*-,-+#(
1"#%-+g[?Th
C[<[TT
C[<\OM
[<\MX
C[<[TO
[<[[_
[<[[[
[<[TW
[<T[X
C[<[^T
+gXX<TNhnnn
gX[<TXhnnn
gX?O^hnn
gX<NNhnnn
gM<^Xhnnn
g[<TTh
g[<X^h
gW<_[hnnn
gM<\Ohnnn
a"-,+#(1"#%-+g[?Th
C[<[T\
C[<WNX
O<^ON
C[<[T\
[<[[^
[<[[[
[<[MN
[<T[_
C[<[OM
+gXW?X^hnnn
gXM<[\hnnn
g^W?TXhnnn
g^<T\hnnn
gT<_Nhnn
g[<OMh
g[<N^h
gTT<WMhnnn
gW<O_hnnn
D9-%+&#+&#.*%*0,
[<[[[
C[<[[X
C[<^X\
[<[[M
[<[[T
[<[[[
[<[T[
[<[[O
[<[[M
+g[<W[h
g[<\_h
gTT?TThnnn
gM<M\hnnn
gT<OXh
g[<NMh
g[<_Mh
gX<^Ohnn
gT<^\h
8:.#% +&#+ 7#"'-%+gT+%*+$-+.-,
'*&-&+&#+
7#"'-%+v
+r+_h
[<[[X
[<TX^
[<\W[
[<^MX
C[<[[O
[C[<[[O
C[<[O\
C[<[MX
+g[<_Th
gT<TMh
g[<N[h
gXX<OWhnnn
g[<M_h
g[<TTh
g[<[Xh
gT<[Mh
g[<\Nh
JUA
N F
RA
NC
ISC
O M
AR
TÍN
EZ
S. /
DA
VID
ES
CO
BA
R /
CL
AU
DIO
LO
YO
LA
^[O
Derecho PUCP, N° 66, 2011 / ISSN 0251-3420
+^A`
*7A27fH-/6(7
^D`
*7A27f)/K(7
^?`
-&H&*7&.f/)2
^B`
.344Z6(.2f/)2
^M`
.(PPf/)2
^=`
&.(PPfH-/6
^C`
&.(PPf)/K
^<`
8_8$,/4H/5&57
^E`
8_V$,/4H/5&57
+ 4-,
'*&-&+&#+/,*&-&#%+&#+. (1"-+&#$+
"A-,
*%(
[<[[[
C[<[[T
C[<[^M
C[<[[T
[<[[[
[<[[[
[<[[X
[<[[[
[<[[[
+gX<\[hnn
gX<NNhnnn
gTM?\[hnnn
gO<[Mhnnn
gX<^Nhnn
gX<T\h
gX<XWhnn
g[<^Mh
g[<MNh
6-"-1-.E
[<[[M
[<TMX
\<\[N
C[<[[T
C[<[X_
C[<[[^
C[<MX\
C[<[OO
[<TXW
+g[<OMh
g[<WXh
gM?TThnnn
g[<[Mh
gT<MNh
g[<NOh
g[<W^h
g[<OOh
gT<^^h
L,' 7-A-%'-
[<[TM
[<^_X
^<M^W
C[<[M[
C[<[M\
C[<[[_
CT<OTN
C[<XW^
[<[WM
+gX<WXhnnn
gX<NOhnnn
gX<\Th
g[<O\h
gT<WWhn
gM<XThnnn
gM<[Whnnn
gX<N^hnnn
g[<NOh
L'-.-(-
[<[[\
[<XMW
T<[WO
[<[[^
C[<[MW
C[<[[W
CT<[X^
C[<XT_
[<[NO
+gT<[Wh
gT<X_h
g[<O[h
g[<[Nh
gT<WWhn
gX<[[hnn
gX<[Thnn
gX<TWhnn
g[<_Wh
4 @/*(
!
[<[TT
[<^XM
C[<T[N
C[<[TN
C[<[^_
C[<[[_
CT<ONW
C[<XWM
[<[\X
+gX<M^hnn
gX<^^hnn
g[<[Oh
g[<MWh
gX<MOhnn
gX<WXhnnn
gX<\Xhnn
gX<O_hnnn
g[<\_h
-̀$1-"-9%
[<[[\
[<XO^
[<_TT
C[<[[N
C[<[MO
C[<[[N
CT<[T\
C[<[NW
C[<[TX
+gT<^Mh
gT<O\hn
g\<_Thnnn
g[<X[h
gX<[_hnn
gX<O_hnnn
gX<OMhnnn
gT<[Xh
g[<TOh
F#'" 1 $*'-,-
[<[[M
[<T\W
T^<MN[
[<TMO
C[<[XX
C[<[[O
C[<\\M
C[<TTW
[<[XN
+g[<NOh
gT<[Xh
g_<WNhnnn
gM<^Mhnnn
gT<MMh
gT<ONhn
gT<O[h
gT<^\h
g[<^[h
Gck
*AA*,%
[<[[M
[<T\^
CT<M^X
[<[[M
C[<[\[
C[<[[_
CT<^NO
C[<TTT
[<T^O
+g[<NMh
C[<_X
g[<NTh
g[<[Nh
gX<ONhnnn
gM<TWhnnn
gX<_Mhnnn
gT<XXh
gT<NXhn
F-/$#
[<[[W
[<MT
C[<\NW
C[<TX\
C[<[MM
C[<[[O
C[<N[W
C[<T\T
[<[X_
+gT<OXh
gT<N\hn
g[<MOh
gX<NXhnnn
gT<W^hn
gT<_^hn
gT<NThn
gT<O\hn
g[<MWh
b9 Cb9
[<[[X
[<TM
M<W_T
C[<[OO
C[<[X[
C[<[[W
C[<WTO
C[<T^_
[<[TW
+g[<\\h
g[<NXh
gX<^Nhnn
gT<OTh
gT<TNh
gX<TXhnn
gT<_^hn
gT<TWhn
g[<XMh
L"-/.-,9-
[<[[X
[<T^
[<NXO
C[<[^[
C[<[[^
[<[[[
[<[XW
C[<[_^
[<[WN
+g[<OWh
g[<N\h
g[<\Xh
g[<_Xh
g[<XXh
g[<[\h
g[<[Nh
gT<T[h
gT<[\h
JUA
N F
RA
NC
ISC
O M
AR
TÍN
EZ
S. /
DA
VID
ES
CO
BA
R /
CL
AU
DIO
LO
YO
LA
SOBRE LOS DETERMINANTES DE LA COLUSIÓN EN LAS COMPRAS PÚBLICAS: EL CASO DE CHILE
THE DETERMINANTS OF COLLUSION IN PUBLIC PROCUREMENT: THE CASE OF CHILE
^[W
OO
Derecho PUCP, N° 66, 2011 / ISSN 0251-3420
+^A`
*7A27fH-/6(7
^D`
*7A27f)/K(7
^?`
-&H&*7&.f/)2
^B`
.344Z6(.2f/)2
^M`
.(PPf/)2
^=`
&.(PPfH-/6
^C`
&.(PPf)/K
^<`
8_8$,/4H/5&57
^E`
8_V$,/4H/5&57
+ I %+d9 %+g[?Th
[<[[_
[<MO^
C\<O\X
C[<[^\
C[<[OT
C[<[[_
CX<[OM
C[<MOX
[<[N^
+gT<N^hn
gT<NNhn
gX<NOhnnn
g[<NOh
gX<XWhnn
gX<X[hnn
gT<_\hn
gX<WThnnn
g[<WXh
I %+I-A %+g[?Th
[<[[N
[<M^^
CM<TMW
C[<[[M
C[<[^X
C[<[[W
C[<WNN
C[<TN\
[<T\M
+gX<TXhnn
gX<T\hnn
gT<_Nhnn
g[<[Oh
gX<MXhnn
gX<[Whnn
gT<NNhn
gX<TThnn
gT<_Nhnn
F-A-$$-,#%
[<[[N
[<M^
X<TXW
C[<[TO
C[<[W[
C[<[[_
CT<O[O
C[<X\\
C[<[TN
+gT<WWhn
gT<NMhn
gT<TOh
g[<MMh
gM<XNhnnn
gX<NMhnnn
gX<O\hnnn
gX<^Whnn
g[<X[h
L;%>,
[<[[_
[<MNN
CX<TNN
C[<[O_
C[<[T^
C[<[[^
C[<MO^
C[<XXW
[<[\\
+gX<[Mhnn
gX<X[hnn
gT<X[h
gT<^[h
g[<WTh
gT<[[h
g[<N\h
gX<MNhnn
g[<OOh
6-(
-S +&#+$-+$*.*'-.*0,+gT+%*+#%+#,'"#+
T[[CT[[[+U6F
[<[[X
[<[WM
CW<TXO
[<TXW
C[<[^T
C[<[T_
CT<\\O
C[<TXX
C[<[\^
+gT<N[hn
gT<\Mh
gT^<N^hnnn
g_<NOhnnn
gO<NWhnnn
gN<^_hnnn
gN<OXhnnn
g^<X[hnnn
gX<T[hnn
6-(
-S +&#+$-+$*.*'-.*0,+gT+%*+#%+v
+T[[[+
U6Fh
[<[[X
[<[N\
CW<^[N
[<T_W
C[<[O[
C[<[TX
CX<^XX
C[<X\X
[<[MT
+gT<[Oh
g[<NWh
gW<OWhnnn
gW<__hnnn
g^<_[hnnn
gO<\_hnnn
gO<\Whnnn
g^<TWhnnn
g[<\Nh
. %/1. ,%'"
C[<[[X
C[<TTN
M<_[W
[<[^W
C[<[TM
C[<[[\
C[<OW^
C[<[OX
[<[^X
+g[<_^h
g[<_Mh
gM<^Ohnnn
gT<\Oh
g[<WXh
gX<[Ohnn
gX<MXhnn
g[<WXh
g[<\\h
7 "#&/.
[<[MW
[<_W[
CTT<MX^
[<[XO
C[<T_W
++
C[<WN\
[<[[O
+gO<X\hnnn
gO<X_hnnn
g\<XThnnn
g[<^\h
g_<NOhnnn
++
gN<[Nhnnn
g[<[Wh
#@-..%/1 77*.
C[<[TX
C[<N_O
CN<WW[
[<T[W
[<[[O
C[<[[W
CT<X^^
[<[\M
[<^_[
+gM<_Ohnnn
gM<NMhnnn
gO<[Nhnnn
gX<WWhnn
g[<XTh
gX<XOhnn
gX<X^hnn
g[<^Th
g^<XNhnnn
#@-..%/1(#&
C[<[T^
C[<__T
MO<\\W
[<T\_
C[<[XW
C[<[[^
C[<^\_
[<TMM
C[<[M_
+gO<[_hnnn
g\<N\hnnn
gM^<XNhnnn
g\<\\hnnn
gT<^[h
gT<^Th
gT<^Nh
gT<\Th
g[<\[h
$-!#@/*1
C[<[T
C[<WXO
T^<_\M
[<T\_
C[<[^N
C[<[[O
C[<_[M
C[<[_T
[<[[X
+gX<_Thnnn
gX<N[hnnn
gT[<XWhnnn
g^<[Ohnnn
gT<N_hn
gT<N[hn
gT<_Thn
g[<W_h
g[<[Xh
#@%/1%#./"
C[<[[_
C[<\\M
CO<M_\
[<XXM
[<[XX
C[<[[^
C[<^_X
[<[M[
[<^^_
+gX<^Nhnn
gX<MXhnn
gM<OOhnnn
g^<WOhnnn
g[<WMh
gT<[Mh
gT<T[h
g[<XXh
gM<ONhnnn
JUA
N F
RA
NC
ISC
O M
AR
TÍN
EZ
S. /
DA
VID
ES
CO
BA
R /
CL
AU
DIO
LO
YO
LA
^[N
Derecho PUCP, N° 66, 2011 / ISSN 0251-3420
+^A`
*7A27fH-/6(7
^D`
*7A27f)/K(7
^?`
-&H&*7&.f/)2
^B`
.344Z6(.2f/)2
^M`
.(PPf/)2
^=`
&.(PPfH-/6
^C`
&.(PPf)/K
^<`
8_8$,/4H/5&57
^E`
8_V$,/4H/5&57
+ #@%/1.$#-,
C[<[TM
CT<TXN
CO<NXT
[<M^T
C[<[OT
C[<[[_
CT<W_O
C[<XOM
C[<[X\
+gX<NOhnnn
gX<OOhnnn
gM<[Ohnnn
g\<WThnnn
gT<\^h
gT<_[hn
gT<W^hn
gT<MWh
\
(-.5-..(
*,*,A
[<[T^
[<^N\
CN<TM_
[<T[T
C[<TXX
C[<[[W
CT<[\O
C[<OO\
[<TN_
+gX<[[hnn
gT<_^hn
gX<OThnnn
gT<X[h
gM<X[hnnn
gT<[Oh
gT<[Th
gM<\Xhnnn
gT<T^h
(-.5-... ,%'"
C[<[[T
C[<[MO
CT<XNW
[<T[\
[<[^^
C[<[[^
C[<MN\
[<[X[
[<T^^
+g[<X\h
g[<TOh
g[<O[h
gT<NTht
gT<XWh
g[<W\h
g[<W\h
g[<TXh
g[<_Nh
(-.5-..#,A#,
[<[[T
[<[\\
CTT<\[\
[<TW\
[<[T[
C[<[[M
C[<XWO
C[<[__
[<T_O
+g[<TTh
g[<X[h
g^<OWhnnn
gX<O\hnnn
g[<XWh
g[<^Nh
g[<^_h
g[<\Wh
gT<M[h
(-.5-..(
-'%'
C[<[[T
C[<[NO
C_<[[\
[<XM^
C[<[[W
C[<[[N
CT<\TO
[<[^W
[<[N
+g[<T\h
g[<X_h
gM<^Thnnn
gM<MXhnnn
g[<TMh
gT<O[h
gT<^Wh
g[<XXh
g[<^Xh
(-.5#@%#"=*,&
[<[[[
C[<[^_
CT^<OMW
[<XMT
C[<[M_
C[<[[M
C[<MOO
C[<TN[
[<^\\
+g[<[\h
g[<T[h
gM<WThnnn
gX<T_hnn
g[<_Wh
g[<^Oh
g[<^Nh
g[<_Th
gX<OXhnnn
(-..1$-,'-,*(
[<[XM
[<W^M
CN<T\N
[<TMM
C[<[NO
C[<[[N
CT<O^M
C[<^^M
[<[M\
+gM<[Mhnnn
gM<X[hnnn
gX<WMhnnn
gT<OOhn
gX<XOhnn
gT<OOhn
gT<\_h
gX<^Mhnn
g[<XXh
(-'1" &1-1#"
C[<[T[
C[<WW^
C_<^[O
[<TMO
C[<[TO
[<[[[
C[<[X[
[<[_O
[<MO\
+gX<[^hnn
gX<[Nhnn
g^<^\hnnn
gX<M_hnn
g[<\Th
g[<[Nh
g[<[^h
g[<OTh
gX<OMhnnn
(-'(*,#"1$-,*(
C[<[[X
C[<[^N
C_<MWN
[<T\X
C[<[WX
C[<[[_
CT<_TM
C[<X^T
C[<[MX
+g[<^_h
g[<X\h
g\<T\hnnn
gM<TXhnnn
gX<WNhnnn
gX<WOhnnn
gX<\\hnn
gT<_Thn
g[<X_h
15-"(1" &
C[<[TO
CT<NX_
^^<[W^
[<TW\
C[<[O^
C[<[[W
CT<TN^
[<ON^
C[<\\O
+g^<TNhnnn
gM<_\hnnn
gM^<MThnnn
g\<[Nhnnn
gX<WOhnnn
gX<^\hnn
gX<^Nhnn
gO<OOhnnn
gO<TOhnnn
7/",*'
C[<[[_
C[<\N[
C_<NWW
[<T\M
C[<[\N
C[<[[W
CT<[[^
C[<MM\
C[<[XM
+gX<O_hnnn
gX<O^hnnn
g\<_Whnnn
gM<^^hnnn
gX<XNhnn
gX<TThnn
gX<TMhnn
gX<WXhnnn
g[<XXh
-..7/",#$#.'"
C[<[TX
C[<_XN
CT^<M^O
[<T\\
C[<[XO
C[<[[O
C[<W_[
C[<T\N
[<T\^
+gX<_Mhnnn
gX<WWhnnn
gW<WThnnn
gM<T[hnnn
g[<_Wh
gT<\Wh
gT<\\h
gT<XXh
gT<M\h
JUA
N F
RA
NC
ISC
O M
AR
TÍN
EZ
S. /
DA
VID
ES
CO
BA
R /
CL
AU
DIO
LO
YO
LA
SOBRE LOS DETERMINANTES DE LA COLUSIÓN EN LAS COMPRAS PÚBLICAS: EL CASO DE CHILE
THE DETERMINANTS OF COLLUSION IN PUBLIC PROCUREMENT: THE CASE OF CHILE
^[_
OO
Derecho PUCP, N° 66, 2011 / ISSN 0251-3420
+^A`
*7A27fH-/6(7
^D`
*7A27f)/K(7
^?`
-&H&*7&.f/)2
^B`
.344Z6(.2f/)2
^M`
.(PPf/)2
^=`
&.(PPfH-/6
^C`
&.(PPf)/K
^<`
8_8$,/4H/5&57
^E`
8_V$,/4H/5&57
+ % . "A
[<[OX
T<XN[
CM<^OW
[<[M\
C[<T_W
++
C[<NT_
[<[MO
+gM<MXhnnn
gM<MNhnnn
g[<\[h
g[<T_h
g^<NThnnn
++
g^<[^hnnn
g[<XTh
1 $% .. ,%/$'
[<[XW
[<NT\
CN<N^T
[<[TT
C[<T_T
C[<[T[
CM<[TT
C[<NT\
C[<[XT
+g\<\Ohnnn
g\<O[hnnn
g^<NOhnnn
g[<XXh
gT[<[Ohnnn
gM<XWhnnn
gX<_Thnnn
gN<NWhnnn
g[<XWh
1" &1/!$*.1"#
C[<[T[
C[<ONW
CT[<WON
[<XON
C[<[[W
[<[[[
C[<[TM
C[<X^^
[<[\^
+gX<^_hnn
gX<MWhnn
g\<M^hnnn
g^<_Whnnn
g[<X[h
g[<[Mh
g[<[Mh
gT<^\h
g[<MWh
5#-$'57 &
[<[X\
[<WM^
CO<X_T
[<[^X
C[<T\N
C[<[[_
CX<[_M
C[<W\W
[<[WX
+g\<WOhnnn
g\<\Nhnnn
gM<WMhnnn
g[<_Xh
gO<WThnnn
gX<X[hnn
gX<[Xhnn
gO<W_hnnn
g[<W^h
7 &&"*,l%#"
C[<[[T
C[<TTO
X<O^X
[<TTN
C[<TNN
C[<[TT
CM<^TN
C[<\[[
C[<XT\
+g[<^_h
g[<NNh
gT<NOhn
gM<[Nhnnn
gTT<[Whnnn
g\<TThnnn
g^<\Mhnnn
gO<T^hnnn
gM<[Thnnn
%#"=-A"7*%5
[<[[_
[<MXN
CO<OTT
[<TMM
C[<TXX
C[<[[_
CT<^W[
C[<\_^
[<[XO
+gX<NWhnnn
gX<WXhnnn
g\<MXhnnn
gM<_Nhnnn
gO<N[hnnn
g^<[Mhnnn
g^<[Nhnnn
gO<NWhnnn
g[<M^h
%#"=. ,%'"
C[<[[^
C[<XXM
CT<WO\
[<TW\
[<[[M
C[<[[\
C[<\N_
C[<[T[
[<[XW
+gT<NNhn
gT<_^hn
gT<O[h
g\<_Xhnnn
g[<T_h
gT<_Ohnn
gX<TMhnn
g[<TXh
g[<MWh
%#"=1#"%.-"#
[<[MM
[<_TX
CTT<O\_
C[<[T\
C[<[\\
C[<[[W
CT<TO_
C[<\MN
[<[^_
+g^<W\hnnn
g^<_Xhnnn
g^<M\hnnn
g[<X[h
gT<MMh
gT<[\h
gT<TMh
gX<OXhnnn
g[<XWh
%#"=%#./"
[<[T\
[<\OT
C_?NMN
[<TMW
C[<[NX
++
C[<X^W
[<[OX
+gX<^Xhnn
gX<\Nhnnn
gM<\_hnnn
gT<NWhn
gT<\_h
++
g[<_Oh
g[<XNh
%#"=*,&.$#-,
[<[TM
[<^NT
CW<M_N
[<TW_
C[<T[O
C[<[[W
C[<_[^
C[<[\M
C[<[TN
+gM<M^hnnn
gM<M^hnnn
g^<X^hnnn
gM<N^hnnn
gM<\\hnn
gT<\Mh
gT<^Mh
gM<W\hnnn
g[<T^h
%#"=1#"7(
*, *$
[<[\[
T<W[^
CW<\T[
[<[NN
C[<X[[
++
CT<XO^
[<TON
+gX<\^hnn
gXC^Xhnn
g[<_^h
g[<^Xh
gX<[_hnn
++
gX<O^hnnn
g[<^[h
%#"='"-=#$
[<[[N
[<M[W
CN<^\X
[<[W\
C[<TMT
C[<[[O
C[<NO^
C[<^OX
[<TX\
+gX<[Nhnn
gX<[Nhnn
g\<TMhnnn
gT<W[hn
g\<\Whnnn
gT<ONhn
gT<O_hn
g^<[^hnnn
gT<X^h
JUA
N F
RA
NC
ISC
O M
AR
TÍN
EZ
S. /
DA
VID
ES
CO
BA
R /
CL
AU
DIO
LO
YO
LA
^T[
Derecho PUCP, N° 66, 2011 / ISSN 0251-3420
+^A`
*7A27fH-/6(7
^D`
*7A27f)/K(7
^?`
-&H&*7&.f/)2
^B`
.344Z6(.2f/)2
^M`
.(PPf/)2
^=`
&.(PPfH-/6
^C`
&.(PPf)/K
^<`
8_8$,/4H/5&57
^E`
8_V$,/4H/5&57
+ %#"=#,=*" ,
[<[X_
[<N\T
CTX<MWO
C[<[\W
C[<X[N
++
C[<_[O
C[<[M[
+gM<NOhnnn
g^<TThnnn
g^<XThnnn
g[<WXh
g_<W^hnnn
++
gN<WThnnn
g[<MMh
%#"=1" 7. ,%/$
[<[XM
[<WX^
CN<N[T
[<[[\
C[<TNM
C[<[TX
CX<TO\
C[<W_\
C[<[TO
+gW<TXhnnn
gO<O^hnnn
gW<WOhnnn
g[<T\h
gTT<XOhnnn
g\<\_hnnn
g\<WThnnn
gT[<XOhnnn
g[<XMh
%/1-..#$#.*$$/(
C[<[[_
C[<OM_
CN<[W^
[<TX\
C[<[MX
[<[[[
C[<[[N
C[<[ON
C[<[M[
+gX<MXhnn
gX<M^hnn
g^<TNhnnn
gX<^Xhnn
gT<[Xh
g[<[[h
g[<[Xh
g[<^^h
g[<XXh
'#$#.'*
C[<[T[
C[<O\\
CT[<[__
C[<TMO
C[<[\\
C[<[[N
CT<TWO
C[<XNT
C[<[X_
+gM<W\hnnn
gM<\Whnnn
gN<[Ohnnn
g^<[\hnnn
gX<\Ohnn
gM<[^hnnn
gM<[^hnnn
gX<W^hnnn
g[<MXh
=#59./$ %
C[<[[X
C[<[O_
CX<XWW
[<[WM
C[<TTM
C[<[T[
CX<TMN
C[<\\X
C[<[[O
+g[<O_h
g[<^Th
gT<ONhn
gX<[Thnn
g\<[_hnnn
gM<OOhnnn
gM<^Xhnnn
g\<TWhnnn
g[<[Oh
4 ,%'-,
'#+
_W?_XX
C^_\<_\O
CT_<O__
\<[W[
+T[T<WT[
TT<MM\
CW<[W_
++
gW<OMhnnn
gM<_Ohnnn
g\<N_hnnn
gM<[\hnnn
+gX<^[hnn
gT<^\h
gT<[Mh
G!%#"=-.* ,#%
NTN^O
NTN^O
NTMTN
NTN^O
\OXN
XT[XX
XT[XX
\_\[
\_\[
dC./-&"-&
++
[<X[
[<T[
[<XT
++
[<XW
[<TM
JUA
N F
RA
NC
ISC
O M
AR
TÍN
EZ
S. /
DA
VID
ES
CO
BA
R /
CL
AU
DIO
LO
YO
LA
SOBRE LOS DETERMINANTES DE LA COLUSIÓN EN LAS COMPRAS PÚBLICAS: EL CASO DE CHILE
THE DETERMINANTS OF COLLUSION IN PUBLIC PROCUREMENT: THE CASE OF CHILE
^TT
OO
Derecho PUCP, N° 66, 2011 / ISSN 0251-3420
Tab
la 9
B
+^A`
*7A27fH-/6(7
^D`
*7A27f)/K(7
^?`
-&H&*7&.f/)2
^B`
.344Z6(.2f/)2
^M`
.(PPf/)2
^=`
&.(PPfH-/6
^C`
&.(PPf)/K
^<`
8_8$,/4H/5&57
^E`
8_V$,/4H/5&57
+ )/!. ,'"-'-.*0,+g[?Th
[<[[[
[<[X^
C[<^^O
[<[TT
C[<[TX
C[<[[X
C[<TT_
C[<[X^
[<[TM
+g[<T_h
g[<^Th
g[<WOh
g[<ONh
gT<^\h
g[<WMh
g[<O^h
g[<O^h
g[<MOh
V#.5-+&#+1/!$*.-.*0,+gw+&#+$ Ah
[<TNN
CTT<\_X
O_<W[N
X<_\O
C[<O_\
C[<T\[
CTX<^[W
C[<XN\
T<^^\
+gW<[^hnnn
gW<TThnnn
g^<^Whnnn
gO<N\hnnn
gX<NNhnnn
gX<^_hnn
gX<^\hnn
g[<XWh
gT<M\h
4-,
'*&-&+&#+ 7#"'-%
[<[[T
C[<[\M
C[<\N[
[<[MM
[<[[T
[<[[[
[<[[[
[<[T\
[<[MT
+g^<W_hnnn
g^<__hnnn
g_<_Whnnn
gX[<[Nhnnn
g[<W\h
g[<[_h
g[<[[h
gX<\Nhnnn
g\<TNhnnn
4-,
'*&-&+&#+1" =##& "#%+-&B/&*.-& %
[<[[[
[<[MN
T<TO_
C[<[XN
[<[[_
C[<[[T
C[<TX[
C[<[\W
C[<[O\
+gT<NWhn
gX<MOhnn
g_<W\hnnn
gN<\Mhnnn
g[<^Nh
g[<MMh
g[<M\h
gX<\Ohnn
gX<NNhnnn
L&B/&*.-.* ,#%+(
2$'*1$#%+g[?Th
[<[[T
C[<[X_
X<\WX
C[<XN[
[<[[[
++
[<T[^
C[<TO[
+g[<OXh
g[<MNh
gM<_Nhnnn
gT\<\Xhnnn
g<h
++
gT<\Th
gX<M[hnn
F ,' +' '-$+$*.*'-.*0,+g$ A%h
[<[[[
[<[T_
C[<M[X
C[<T\_
[<[[N
[<[[^
[<MO[
C[<[[_
C[<[_W
+gT<WNhn
gT<TMh
gT<NWhn
gM\<MWhnnn
gX<X_hnn
g\<TMhnnn
g\<X[hnnn
g[<\_h
gO<^[hnnn
H#@/#S-+#(
1"#%-+g[?Th
[<[TT
C[<ON^
[<\_T
C[<[T^
[<[[_
[<[[X
[<TW\
[<TMT
C[<[^^
+gXM<_Mhnnn
gXX<WThnnn
gX<[^hnn
gT<WOhn
gX<T_hnn
gT<NOhn
gT<_Whnn
gW<TXhnnn
gX<MWhnn
F#&*-,-+#(
1"#%-+g[?Th
[<[[_
C[<\W\
[<\^O
C[<[TO
[<[[_
[<[[T
[<[OO
[<T[T
C[<[^T
+gTN<^Nhnnn
gTO<WThnnn
gX<XMhnn
gX<MMhnn
gX<XOhnn
g[<WTh
g[<NXh
g\<N\hnnn
gX<MMhnn
a"-,+#(1"#%-+g[?Th
[<[TT
C[<W__
W<[[O
C[<[T^
[<[[\
[<[[T
[<[_T
[<TTO
C[<[O^
+gXX<XOhnnn
gTN<NOhnnn
g^T<_Mhnnn
gM<[Thnnn
gT<N_hn
gT<^_h
gT<W[hn
g_<WOhnnn
g\<M[hnnn
D9-%+&#+&#.*%*0,
[<[[[
C[<[[X
C[<^\X
[<[[\
[<[[T
[<[[[
[<[TT
[<[[W
[<[[O
+g[<\Th
g[<M\h
g_<N^hnnn
g^<[Mhnnn
gX<[Mhnn
g[<WWh
g[<__h
gX<XNhnn
gX<TNhnn
8:.#% +&#+ 7#"'-%+gT+%*+$-+.-,
'*&-&+&#+
7#"'-%+v
+r+_h
[<[[T
[<[T\
[<WOX
[<^T\
[<[[T
C[<[[T
C[<[_X
[<[[X
[<[^X
+g[<XNh
g[<TMh
g[<__h
gT_<MWhnnn
g[<[^h
g[<MMh
g[<M[h
g[<[Mh
g[<\_h
4-,
'*&-&+&#+
/,*&-&#%+&#+
. (1"-+&#$+
"A-,
*%(
[<[[[
C[<[[T
C[<[^_
C[<[[T
[<[[[
[<[[[
[<[[X
[<[[[
[<[[[
+gT<OXh
gX<[\hnn
gTX<NThnnn
gO<^[hnnn
gT<\Xh
gT<^Th
gT<^Mh
g[<TXh
gT<[Oh
JUA
N F
RA
NC
ISC
O M
AR
TÍN
EZ
S. /
DA
VID
ES
CO
BA
R /
CL
AU
DIO
LO
YO
LA
^TX
Derecho PUCP, N° 66, 2011 / ISSN 0251-3420
+^A`
*7A27fH-/6(7
^D`
*7A27f)/K(7
^?`
-&H&*7&.f/)2
^B`
.344Z6(.2f/)2
^M`
.(PPf/)2
^=`
&.(PPfH-/6
^C`
&.(PPf)/K
^<`
8_8$,/4H/5&57
^E`
8_V$,/4H/5&57
+ 6-"-1-.E
[<[[T
[<[NN
O<M^[
[<[TM
C[<[\T
C[<[[W
C[<WW[
C[<T[T
[<XX[
+g[<TNh
g[<MOh
gX<_Thnnn
g[<XTh
gT<W\hn
gT<\Oh
gT<^Wh
g[<WWh
gT<O\hn
L,' 7-A-%'-
[<[T[
[<\\_
X<O\_
C[<[\\
C[<[^\
C[<[T[
CT<\O^
C[<XM[
[<[^M
+gX<X[hnn
gX<^Xhnn
gT<X^h
g[<_Xh
gT<OTh
gX<N\hnnn
gX<WMhnnn
gT<WWhn
g[<MMh
L'-.-(-
[<[[X
[<X^T
[<N\[
[<[T^
C[<[\N
C[<[T[
CT<O^T
C[<X[_
[<[OX
+g[<\Oh
g[<_Nh
g[<MNh
g[<XXh
gT<__hnn
gX<^Nhnn
gX<M_hnn
gT<\Wh
g[<^Oh
4 @/*(
!
[<[T\
[<O_X
C[<W[\
C[<[TX
C[<[O[
C[<[T[
CT<WW_
C[<XW_
[<T[\
+gX<_[hnnn
gM<[Thnnn
g[<MTh
g[<TNh
gT<_Nhnn
gX<^[hnn
gX<X^hnn
gT<_Nhnn
g[<W^h
-̀$1-"-9%
[<[[\
[<MMT
[<W\[
C[<[TT
C[<[^X
C[<[[_
CT<[ON
C[<[OO
[<[T^
+gT<XMh
gT<\\h
g\<OWhnnn
g[<X[h
gT<WOhn
gX<\Whnn
gX<\Ohnn
g[<\_h
g[<TXh
F#'" 1 $*'-,-
[<[[X
[<X[N
TO<TOT
[<T^W
C[<[MM
C[<[[_
C[<W_\
C[<T[M
[<[M\
+g[<W^h
gT<[Th
gN<_Mhnnn
gX<_Xhnnn
gT<^^h
gX<T\hnn
gX<TMhnn
g[<_Nh
g[<MMh
Gck
*AA*,%
[<[[O
[<M\W
CT<O_T
C[<[[T
C[<[W_
C[<[T[
CT<OT_
C[<T_\
[<XT[
+gT<^\h
gT<OXh
g[<NMh
g[<[Th
gM<[^hnnn
gX<_Nhnnn
gX<NThnnn
gT<OTh
gT<WXhn
F-/$#
[<[[_
[<\XW
C[<OO\
C[<T^_
C[<[^T
C[<[[N
C[<_WX
C[<TOX
[<[^M
+gX<TXhnn
gX<M_hnn
g[<MMh
gX<O^hnnn
gT<\Oh
gT<_Whnn
gT<_Thn
gT<MMh
g[<M\h
b9 Cb9
[<[[M
[<X^T
^<N\T
C[<[N\
C[<[MM
C[<[[_
C[<NOO
C[<X[W
[<[\T
+g[<NMh
gT<T^h
gX<\Nhnnn
gT<OXh
gT<MOh
gX<M[hnn
gX<TOhnn
gT<NWhn
g[<^Oh
L"-/.-,9-
[<[[M
[<XX_
[<_TM
C[<[OT
C[<[TT
C[<[[X
C[<T[X
C[<[NT
[<[__
+g[<W_h
gT<[\h
g[<^Oh
gT<T[h
g[<^\h
g[<M\h
g[<XOh
g[<WMh
g[<NWh
I %+d9 %+g[?Th
[<[TT
[<\TW
CO<O^W
C[<[NW
C[<[W\
C[<M_[
C[<[[O
+gX<[^hnn
gX<[Nhnn
gX<W\hnnn
gT<X_h
gX<[[hnn
gX<XThnn
g[<[Mh
I %+I-A %+g[?Th
[<[T[
[<\^N
CM<N[X
C[<[TM
C[<[\[
C[<[[N
C[<N^_
C[<T^^
[<XXT
+gX<^^hnn
gX<\Ohnn
gT<_^hn
g[<XMh
gT<_Ohn
gT<_Whnn
gT<NWhn
gT<XMh
gT<NWhn
JUA
N F
RA
NC
ISC
O M
AR
TÍN
EZ
S. /
DA
VID
ES
CO
BA
R /
CL
AU
DIO
LO
YO
LA
SOBRE LOS DETERMINANTES DE LA COLUSIÓN EN LAS COMPRAS PÚBLICAS: EL CASO DE CHILE
THE DETERMINANTS OF COLLUSION IN PUBLIC PROCUREMENT: THE CASE OF CHILE
^TM
OO
Derecho PUCP, N° 66, 2011 / ISSN 0251-3420
+^A`
*7A27fH-/6(7
^D`
*7A27f)/K(7
^?`
-&H&*7&.f/)2
^B`
.344Z6(.2f/)2
^M`
.(PPf/)2
^=`
&.(PPfH-/6
^C`
&.(PPf)/K
^<`
8_8$,/4H/5&57
^E`
8_V$,/4H/5&57
+ F-A-$$-,#%
[<[[W
[<MNN
X<M\[
[<[[[
C[<[_X
C[<[T[
CT<^^O
C[<XMX
C[<T[W
+gT<^Nh
gT<\Nh
gT<[^h
g[<[Th
gM<[Xhnnn
gX<^\hnn
gX<MMhnn
gT<O_hn
g[<WWh
L;%>,
[<[TX
[<\__
CX<O_X
C[<[NN
C[<[X^
C[<[[O
C[<O^T
C[<XMW
[<[MT
+gX<MWhnn
gX<O[hnnn
gT<X[h
gT<^Xh
g[<NOh
gT<^Wh
gT<MMh
gT<NOhn
g[<X^h
6-(
-S +&#+$-+$*.*'-.*0,+gT+%*+#%+#,'"#+
T[[CT[[[+U6F
[<[[X
[<T[[
CW<^NW
[<TW[
C[<[^\
C[<[T_
CT<^O[
C[<TX\
[<[XT
+gT<N[hn
gT<O^h
gTX<M_hnnn
gT[<T[hnnn
g^<\Thnnn
gO<NMhnnn
gO<NNhnnn
gX<WOhnnn
g[<^\h
6-(
-S +&#+$-+$*.*'-.*0,+gT+%*+#%+v
+T[[[+
U6Fh
[<[[M
[<T\^
CW<N_^
[<XNW
C[<[OM
C[<[TM
CX<M\T
C[<XXT
[<XMN
+gT<M^h
gT<XWh
gO<_[hnnn
g_<[Xhnnn
gM<TWhnnn
g\<^Mhnnn
g\<^^hnnn
gX<^Xhnn
gX<\Nhnnn
4 #7*.*#,'#+&#+=-"*-.*0,+g 7#"'-%+%'&#=p
(#&*-h
[<[[^
[<XXO
[<TX[
[<\O[
[<[TT
[<[[\
[<M\\
[<X^^
[<O[X
+g\<[Wh
nnng^<__h
nnng[<X\h
g^X<M\hnnn
gT<TNh
gX<^Nhnn
gX<XWhnn
gO<TOhnnn
gT\<[^hnnn
. %/1. ,%'"
[<[[^
C[<M\M
\<[_T
[<[N[
[<[T\
C[<[[\
C[<\X^
[<[XW
[<[OX
+gT<_Whnn
gX<XThnn
gM<W[hnnn
gX<T[hnn
g[<O^h
gT<MXh
gT<\Mh
g[<X\h
g[<\Nh
7 "#&/.
[<[M[
[<_W[
CT[<T[O
[<[NW
C[<TNO
++
C[<WTT
[<[M^
+g^<_Nhnnn
g^<_\hnnn
gM<^_hnnn
gT<[_h
gO<\^hnnn
++
g\<^Mhnnn
g[<XOh
#@-..%/1(#&
[<[TT
CT<TM^
MW<N_N
[<TO\
C[<[XM
C[<[[O
C[<O_N
[<TWO
C[<[N_
+g\<W^hnnn
g\<WThnnn
gX_<OMhnnn
g^<O^hnnn
g[<_Xh
gT<WOhn
gT<NOhn
gT<ONhn
g[<NMh
$-!#@/*1
[<[[N
C[<WMT
TM<OX[
[<TMX
C[<[TM
C[<[[O
C[<WXX
C[<[_^
[<[[O
+gX<^^hnn
gX<M_hnn
gW<WXhnnn
gX<ONhnnn
g[<M_h
gT<XTh
gT<MOh
g[<OWh
g[<[^h
#@%/1.$#-,
[<[TT
CT<\WT
CO<XXN
[<MM\
[<[[^
C[<[[_
CT<\__
C[<[WN
C[<TM_
+gX<WWhnnn
gX<O\hnnn
gX<^[hnn
g^<O\hnnn
g[<[Wh
gT<O[h
gT<\^h
g[<M^h
g[<O[h
(-.5-..(
*,*,A
[<[TW
[<OON
CO<XNW
[<XTO
C[<TXW
++
C[<ON[
[<TN\
+gX<[^hnn
gX<[[hnn
gT<^Th
gT<W^hn
gX<O[hnnn
++
gX<_Ohnnn
g[<N[h
(-.5-... ,%'"
[<[[M
C[<XMM
[<OMT
[<X[_
[<[W_
C[<[[^
C[<M^W
[<TO\
[<MWW
+g[<O_h
g[<WWh
g[<X^h
gX<N[h
nnngT<OTh
g[<\Wh
g[<\Mh
g[<W\h
gT<W[hn
JUA
N F
RA
NC
ISC
O M
AR
TÍN
EZ
S. /
DA
VID
ES
CO
BA
R /
CL
AU
DIO
LO
YO
LA
^T^
Derecho PUCP, N° 66, 2011 / ISSN 0251-3420
+^A`
*7A27fH-/6(7
^D`
*7A27f)/K(7
^?`
-&H&*7&.f/)2
^B`
.344Z6(.2f/)2
^M`
.(PPf/)2
^=`
&.(PPfH-/6
^C`
&.(PPf)/K
^<`
8_8$,/4H/5&57
^E`
8_V$,/4H/5&57
+ (-.5-..#,A#,
[<[[[
C[<[X^
CTT<X\[
[<X[M
[<[\\
[<[[X
[<T[X
C[<[XT
[<T^T
+g[<[Th
g[<[Wh
gM<WNhnnn
gX<^Ohnn
gT<X[h
g[<XTh
g[<TWh
g[<T[h
g[<OWh
(-.5-..(
-'%'
[<[[[
C[<T[\
CW<_O_
[<MX_
[<[\M
C[<[[N
CT<[NM
[<TW[
[<TT_
+g[<[Th
g[<X_h
gX<^Xhnn
gM<OThnnn
g[<W\h
gT<TXh
gT<[^h
g[<OMh
g[<^^h
(-..1$-,'-,*(
[<[T^
[<O[\
CW<TXX
[<TO_
C[<[^O
C[<[[N
CT<TNO
C[<MXN
[<[_X
+gT<__hnn
gX<[Ohnn
gT<_\hn
gT<OWhn
g[<N^h
gT<T^h
gT<TMh
gT<M\h
g[<MNh
(-'(*,#"1$-,*(
[<[[X
C[<TMN
N<TON
[<XWX
C[<[^T
C[<[[_
CT<^M\
C[<TOM
[<[_T
+g[<OTh
g[<\_h
gM<OOhnnn
g^<MNhnnn
gT<TNh
gT<_Ohn
gT<NWhn
gT<[Mh
g[<\Wh
15-"(1" &
[<[TX
CT<WM^
^M<ON_
[<[_^
C[<[\T
C[<[[N
CT<X[^
[<W^[
C[<O[\
+gM<NOhnnn
gM<W[hnnn
gXN<N[hnnn
gX<XMhnn
gT<OWhn
gX<[\hnn
gX<TMhnn
g\<_\hnnn
g^<NThnnn
7/",*'
[<[[N
C[<NM_
CN<NMM
[<T_M
C[<[^\
C[<[[W
C[<_[W
C[<XNM
C[<[M\
+gM<TMhnnn
gM<TMhnnn
g^<\_hnnn
gM<O[hnnn
gT<^[h
gT<OWhn
gT<WThn
gT<_Mhn
g[<XMh
-..7/",#$#.'"
[<[[_
C[<_NN
CT^<W[T
[<T^\
C[<[[N
C[<[[O
C[<OMM
C[<TX[
[<[MO
+gX<O_hnnn
gX<OXhnnn
gO<NOhnnn
gX<^Mhnn
g[<X^h
gT<TWh
gT<T_h
g[<NXh
g[<X^h
% . "A
[<[^O
T<TN^
C[<XXW
[<TM_
C[<TO[
++
C[<M\M
C[<T_W
+gT<N^hn
gT<WOhn
g[<[Xh
g[<^[h
g[<N_h
++
g[<^Th
g[<XMh
1 $% .. ,%/$'
[<[MT
T<[T[
CN<\[N
[<[\M
C[<TW^
C[<[T[
CX<X[^
C[<_[T
[<[OO
+g\<WOhnnn
g\<OOhnnn
gM<^Nhnnn
g[<WNh
gO<^Thnnn
gX<XXhnn
gX<T[hnn
gW<X^hnnn
g[<\Mh
1" &1/!$*.1"#
[<[[_
C[<_OT
CT[<_NO
[<XXM
[<[\O
[<[[X
[<[NW
C[<[__
[<[T_
+gX<ONhnnn
gX<ONhnnn
g^<OWhnnn
gM<^Xhnnn
gT<TWh
g[<XTh
g[<T\h
g[<^Wh
g[<[_h
"/!(-'
[<[M_
T<[_W
T<[_W
[<[W^
C[<TXW
++
C[<M[[
C[<T^_
+gT<_Ohnn
gT<WMhn
g[<TMh
g[<MTh
g[<WTh
++
g[<M\h
g[<TWh
5#-$'57 &
[<[T\
[<\__
C\<O^[
[<[MX
C[<T^W
C[<[[_
CT<^WX
C[<W^^
C[<[\M
+gM<N^hnnn
gM<\_hnnn
gX<\\hnn
g[<\Xh
g^<TOhnnn
gT<^Xh
gT<^[h
g^<W^hnnn
g[<MMh
JUA
N F
RA
NC
ISC
O M
AR
TÍN
EZ
S. /
DA
VID
ES
CO
BA
R /
CL
AU
DIO
LO
YO
LA
SOBRE LOS DETERMINANTES DE LA COLUSIÓN EN LAS COMPRAS PÚBLICAS: EL CASO DE CHILE
THE DETERMINANTS OF COLLUSION IN PUBLIC PROCUREMENT: THE CASE OF CHILE
^T\
OO
Derecho PUCP, N° 66, 2011 / ISSN 0251-3420
+^A`
*7A27fH-/6(7
^D`
*7A27f)/K(7
^?`
-&H&*7&.f/)2
^B`
.344Z6(.2f/)2
^M`
.(PPf/)2
^=`
&.(PPfH-/6
^C`
&.(PPf)/K
^<`
8_8$,/4H/5&57
^E`
8_V$,/4H/5&57
+ 7 &&"*,l%#"
[<[[^
[<TM\
X<[\O
[<T_N
C[<TW[
C[<[TX
CX<__^
C[<^OM
C[<T\_
+gT<MNh
g[<N^h
gT<[Oh
gM<ONhnnn
gW<[_hnnn
gM<T_hnnn
gX<NOhnnn
g^<MThnnn
gT<^Oh
%#"=-A"7*%5
[<[[_
[<MNT
C\<OOO
[<XMX
C[<T[_
C[<[[_
CT<XN[
C[<\T[
[<[NO
+gX<_Mhnnn
gX<OThnnn
gM<O[hnnn
g\<M[hnnn
g^<\[hnnn
gX<N^hnnn
gX<_Mhnnn
g^<O\hnnn
g[<WNh
%#"=. ,%'"
[<[[M
C[<X[_
CT<TMT
[<XW^
[<[XM
C[<[[^
C[<MNO
[<[WT
[<[N^
+gT<XWh
gT<\Th
g[<NMh
gW<X\hnnn
gT<[Xh
gT<[^h
gT<TWh
g[<W[h
g[<NTh
%#"=1#"%.-"#
[<[T_
[<W^M
CT[<N^_
C[<[X^
[<[T\
C[<[[^
C[<OX_
C[<M\X
C[<[_T
+gX<NWhnnn
gX<_\hnnn
gX<_Nhnnn
g[<XMh
g[<XXh
g[<M_h
g[<O[h
gT<TMh
g[<X_h
%#"=*,&.$#-,
[<[T[
[<^MX
CO<X_W
[<TMM
C[<[NN
C[<[[W
C[<NM\
C[<\NM
C[<TN^
+gX<WXhnnn
gX<\\hnn
gX<_Whnnn
gX<X\hnn
gX<XMhnn
gT<X[h
gT<[Nh
gM<T\hnnn
g[<_Nh
%#"=1/!$*.*'
[<[[\
C[<M\O
C_<^X_
[<MM\
C[<[_M
C[<[[N
CT<TM\
C[<XW_
[<X\^
+gX<[Mhnn
gX<[Whnn
gO<[Xhnnn
gW<O_hnnn
gM<\Ohnnn
gX<MNhnn
gX<^_hnn
gX<M^hnn
gX<TThnn
%#"=7*,-,
[<[[W
C[<OO_
CT_<NTO
[<T^M
C[<[O_
C[<[[O
C[<W\N
C[<^^W
[<[WO
+gT<_Xhn
gT<_Mhn
gN<TMhnnn
gX<TThnn
gT<WOhn
g[<_Th
g[<_Nh
gX<\Xhnn
g[<^Xh
%#"=#,=*" ,
[<[MM
T<[^W
CTT<T[O
[<[O[
C[<X[M
++
C[<N\W
[<[TX
+gM<WNhnnn
gM<_Thnnn
gX<OOhnnn
g[<\Xh
gO<\\hnnn
++
g\<_Nhnnn
g[<[Nh
%#"=1" 7. ,%/$
[<[TN
[<W[_
CN<[NO
[<[\_
C[<TOW
C[<[TX
CT<_^\
C[<ONT
[<[[\
+g\<_Thnnn
g\<M^hnnn
g\<O_hnnn
gT<^_h
gW<WMhnnn
g^<[Whnnn
g^<XXhnnn
gW<[Ohnnn
g[<[Oh
%/1-..#$#.*$$/(
[<[[W
C[<W^_
CN<XOX
[<T^X
[<[^M
[<[[^
[<XMX
C[<[_[
C[<[OM
+gX<[^hnn
gX<T_hnn
gM<\\hnnn
gX<X[hnn
gT<[Oh
g[<\Xh
g[<^_h
g[<^_h
g[<M^h
=#59./$ %
[<[[M
C[<X\O
C[<T\_
[<T\O
C[<[NT
C[<[T[
CT<WW[
C[<M^T
[<TXN
+gT<X[h
gT<TNh
g[<T[h
gM<^[hnnn
gX<O\hnnn
gX<N^hnnn
gX<W^hnnn
gX<^_hnn
g[<_Xh
4 ,%'-,
'#TT[<M^O
COOM<T\\
CXW<WMT
O<_MO
++
TT\<NW^
X<NOT
CTM<\O\
+gO<_^hnnn
g^<MOhnnn
gO<\_hnnn
gX<_Ohnnn
++
gX<M\hnn
g[<XNh
gT<M[h
G!%#"=-.* ,#%
OM\[T
OM\[T
OMT_\
OM\NO
MXOT
T^OWO
T^OWO
M\_[
M\_[
dC./-&"-&
++
[<X[
[<TX
[<XT
++
[<XN
[<TN
JUA
N F
RA
NC
ISC
O M
AR
TÍN
EZ
S. /
DA
VID
ES
CO
BA
R /
CL
AU
DIO
LO
YO
LA
^TO
Derecho PUCP, N° 66, 2011 / ISSN 0251-3420
#@/*1 %+;+-..#% "* %+&#+$-! "-' "* Q+(-'#"*-$#%+&#+(*,#"-$#%?+1$-,'-%+ +-,*(-$#%+R/,-+-(1$*-+=-"*#&-&+&#+(-'#"*-$#%+#%+/%-&-?+1"*,.*1-$(#,'#?+1-"-+. ,%'"/..*0,+ $*=*-,-+;+ '-"#-%+&#+ "#1-"-.*0,+&#+ $-%+(/,*.*1-$*&-C&#%RQ+1" &/.' %+7-"(-.>/'*. %Q+;+%#"=*.* %+&#+. (*&-+;+!#!#%'*!$#%<+
8,+'#".#"+$/A-"?+1-"-+#$+'*1 +&#+. $/%*0,+#,+@/#+#:*%'#+/,+#:.#% +&#+ 7#"C'-%+7-$%-%+g. $/(,-+^h?+$ %+"/!" %+-7#.'-& %+% ,+&#(-%*-& %+1-"-+*,.$/*"C$ %+1 "+#%."*' ?+-/,@/#+A#,#"-$(#,'#+%#+"#$-.* ,-,+. ,+$-+. ,%'"/..*0,+;+$ %+%#"=*.* %+@/#+*,= $/."-,+A"-,&#%+*,=#"%* ,#%+R$-%+(E%+*(1 "'-,'#%+&#+$-%+./-$#%+%#+1/#&#,+ !%#"=-"+#,+$-+'-!$-+XR<+
8,+./-"' +$/A-"?+1-"-+#$+'*1 +&#+$*.*'-.*0,+#,+@/#+#:*%'#,+&*7#"#,.*-%+#:C.#%*=-%+#,+$ %+1"#.* %+#%'*(-& %+;+-&B/&*.-& %?+$ %+"/!" %+-7#.'-& %+1 "+$-+. $/%*0,+, +#%'E,+.$-"-(#,'#+*,*& %Q+#%+(E%?+%#+1 &"9-+&#.*"+@/#+' & %+% ,+-7#.'-& %+&#+*A/-$+(-,#"-<
I I I .PRUEBAS DE ROBUSTEZ Y ANÁ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
8,+ %#A/,& + $/A-"?+ #B#./'-( %+ "#A"#%* ,#%+ g'-!$-+ N!h+ ;+ -A"#A-( %+ #$+. #7*.*#,'#+ &#+ =-"*-.*0,+&#+ $-%+ 7#"'-%+ . ( +/,-+ =-"*-!$#+ #:1$*.-'*=-+1-"-+&#'#.'-"+%*+#%'-+, %+-;/&-+-+#:1$*.-"+$-+. $/%*0,<+V*,-$(#,'#?+$ %+"#%/$'-& %+. ,7*"(-,+$-+'# "9-+1 "@/#?+-+(-; "+=-"*-.*0,+#,'"#+ 7#"'-%+R. ,'" $-,& +1 "+' &-%+$-%+&#(E%+=-"*-!$#%R?+#:*%'#,+(-; "#%+1" !-C!*$*&-&#%+&#+. $/%*0,<+I %+"#%/$'-& %+, +=-"9-,+(/.5 +. ,+#%'-+,/#=-+#%1#.*7*.-.*0,<+
H "+2$'*( ?+1" !-( %+$ %+"#%*&/-$#%+&#+"#A"#%*0,+$*,#-$+1-"-+=#"*7*.-"+@/#+' &-%+$-%+"#A"#%* ,#%+. ,'*#,#,+"/*& +!$-,. <+8$+-,E$*%*%+A"E7*. +%#+(/#%C'"-+#,+#$+-1>,&*.#+X<+4$-"-(#,'#?+, +5-;+1"# ./1-.* ,#%+% !"#+#$+%#%A +&#+,/#%'" %+"#%*&/-$#%+&#+"#A"#%*0,Q+#%' %+%*A/#,+$-+$9,#-+#%'E,&-"+&#+$ %+%/1/#%' %+&#+"#A"#%*0,<
I V . C O N C L U S I O N E SL$+/'*$*P-"+/,+#,7 @/#+#%'E,&-"+&#+-,E$*%*%+F4G?+H" !*'+;+I A*'?+1 &#C( %+#,. ,'"-"+1-'" ,#%+&#+. (1 "'-(*#,' +@/#+*,&*.-,+$-+1"#%#,.*-+&#+. $/%*0,<+I-+=-"*-!*$*&-&+#:1$*.-&-+, +#%+&#(-%*-& +A"-,&#?+&#!*& +-+@/#+#%+/,+7#,0(#, +%/'*$<+)*,+#(!-"A ?+#%'#+-,E$*%*%+, %+1#"(*'#+ !'#,#"+
JUA
N F
RA
NC
ISC
O M
AR
TÍN
EZ
S. /
DA
VID
ES
CO
BA
R /
CL
AU
DIO
LO
YO
LA
SOBRE LOS DETERMINANTES DE LA COLUSIÓN EN LAS COMPRAS PÚBLICAS: EL CASO DE CHILE
THE DETERMINANTS OF COLLUSION IN PUBLIC PROCUREMENT: THE CASE OF CHILE
^TW
OO
Derecho PUCP, N° 66, 2011 / ISSN 0251-3420
1 &#" %-%+1#"%1#.'*=-%+1-"-+#,7 .-", %+#7*.*#,'#(#,'#+#,+$ %+%#.' "#%+(E%+%/%.#1'*!$#%+-+$-+. $/%*0,<+
i/#%'" +-,E$*%*%+, +#%+. (1$#'-(#,'#+. ,.$/;#,'#+1 "@/#+, +#%'E+!-%-C& +#,+B/*.* %+,*+7-$$ %+$#A-$#%Q+%#+. ,%*&#"-,+$ %+"#%/$'-& %+% !"#+$-+!-%#+&#+$-%+-, (-$9-%+#,+#$+. (1 "'-(*#,' +&#+$-%+ 7#"'-%?+$ %+1"#.* %+;+#$+#%C@/#(-+&#+-&B/&*.-.*0,<+H-"-+$ A"-"$ ?+,#.#%*'-"9-( %+/,-+!-%#+&#+&-' %+/,*7 "(#+;+1" .#%-&-+@/#+*,.$/;-+$ %+.-% %+#,+@/#+%#+5-+&#'#"(*,-& +$#A-$(#,'#+/,+*$9.*' +&#+. $/%*0,<+I-+. ,%'"/..*0,+&#+#%'#+'*1 +&#+!-%#+&#+&-' %+%#"9-+(/;+*(1 "'-,'#?+1#" +-+$-+7#.5-+, +%#+5-+"#-$*P-& <
k#( %+&#( %'"-& +$-+" !/%'#P+&#+,/#%'" %+"#%/$'-& %+1 "+(#&* +&#+/,+%#,.*$$ +. ,B/,' +&#+1"/#!-%?+-$+' (-"+#,+./#,'-+$ %+%/1/#%' %+#. , C(>'"*. %+;+#$+"-P ,-(*#,' +&#+$-%+#%'*(-.* ,#%<+8,+/,+-,E$*%*%+1 %'#"* "+1 &"9-( %+#B#./'-"+/,-+(-; "+&*=#"%*&-&+&#+1"/#!-%?+1#" +%/1 ,#( %+@/#+$ %+"#%/$'-& %+, +%#"9-,+(/;+&*%'*,' %<+
4$-"-(#,'#?+ $-+. $/%*0,+1/#&#+.$-%*7*.-"%#+#,+& %+.-'#A "9-%3+. $/%*0,+#,'"#+1" =##& "#%+/+ 7#"#,'#%+gGCGh?+;+. $/%*0,+#,'"#+. (1"-& "+;+1" C=##& "+gGCDh<+L$+"#-$*P-"+/,+-,E$*%*%+#%'E,&-"+&#+. (1 ,#,'#%+1"*,.*C1-$#%?+5#( %+&#'#"(*,-& +@/#?+&#%&#+$ %+. (1 ,#,'#%+1"*,.*1-$#%+&#+$-%+ .*,. + =-"*-!$#%+ #,&*#,'#%?+ 5-;+ & %+ &*(#,%* ,#%+ 1"*,.*1-$#%+ &#+. $/%*0,+@/#+%#+"#$-.* ,-,+. ,+$-+ 7#"'-+;+. ,+$-+"#$-.*0,+*$9.*'-+#,'"#+ 7#"'-+;+&#(-,&-<+
I %+"#%/$'-& %+*,&*.-,+@/#+#$+%#.' "+1" &/.'*= ?+$-+*,#,&#,.*-+&#$+ "A-,*%( +. (1"-& "?+#$+( ,' +*,= $/."-& ?+$-+1 %*!*$*&-&+&#+%/!. ,C'"-'-.*0,?+$-+.-,'*&-&+&#+ 7#"'-%+;+#$+#%@/#(-+&#+-&B/&*.-.*0,+(2$'*1$#+% ,+&#'#"(*,-,'#%+&#+ $-+. $/%*0,<+H "+ $ +'-,' ?+#,&*#,& +&#$+ '*1 +&#+ *$9.*' ?+#:*%'#+/,-+,#.#%*&-&+&#+. ,.#,'"-"%#+#,+ $-%+ $*.*'-.* ,#%+&#+ "A-,*%( %+. (1"-& "#%+(E%+*,#,&*#,'#%?+. ,+ 1.* ,#%+&#+%/!. ,C'"-'-.*0,+;+$-+1 %*!*$*&-&+&#+-&B/&*.-.*0,+(2$'*1$#<+
U,+-,E$*%*%+(E%+1" 7/,& +&#!#"9-+ *,.$/*"+/,-+#%'*(-.*0,+&#+&-' %+&#+1-,#$+1-"-+ !%#"=-"+$-+=-"*-.*0,+#,+#$+'*#(1 +;+&#+$ %+A"/1 %<+FE%+-2,?+/'*$*P-,& +#%'-+5#""-(*#,'-+#. , (>'"*.-+1 &"9-( %+5-.#"+-$A/,-%+*,C7#"#,.*-%+-.#".-+&#+$ %+#7#.' %+&#+$-+#%'-.* ,-$*&-&<+8,+#%'#+%#,'*& ?+/, +&#+$ %+-,E$*%*%+1#,&*#,'#%+'*#,#+@/#+=#"+. ,+#$+. %' +#. ,0(*. +' '-$+&#+$-+. $/%*0,<+