Auctions vs. Negotiations.
Which is the more profitable way to sell a company: a public auction or an optimally structured negotiation with a smaller number of bidders? We show that under standard assumptions the public auction is always preferable, even if it forfeits all the seller's negotiating power, including the ab...
| Main Authors: | , |
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| Format: | Working paper |
| Language: | English |
| Published: |
National Bureau of Economic Research
1994
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