Auctions versus Negotiations.
Which is the more profitable way to sell a company: an auction with no reserve price or an optimally structured negotiation with one less bidder? The authors show, under reasonable assumptions, that the auction is always preferable when bidders' signals are independent. For affiliated signals,...
| Main Authors: | , |
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| Format: | Journal article |
| Language: | English |
| Published: |
1996
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