Jump bidding in ascending auctions: The case of takeover contests
AbstractThis paper analyses jump bidding in ascending auctions in the case of takeover contests. The free riding condition explains that some jumps can occur driven by the own bidders free-rider condition. We also show that ascending auction can be inefficient.
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Bibliographic InfoArticle provided by Elsevier in its journal Economics Letters.
Volume (Year): 99 (2008)
Issue (Month): 3 (June)
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Web page: http://www.elsevier.com/locate/ecolet
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