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Jump Bidding in Ascending Auctions: the Case of Takeover Contests

Author

Listed:
  • Christian At

    (CRESE - Centre de REcherches sur les Stratégies Economiques (UR 3190) - UFC - Université de Franche-Comté - UBFC - Université Bourgogne Franche-Comté [COMUE])

  • Pierre-Henri Morand

    (CRESE - Centre de REcherches sur les Stratégies Economiques (UR 3190) - UFC - Université de Franche-Comté - UBFC - Université Bourgogne Franche-Comté [COMUE])

Abstract

This 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.

Suggested Citation

  • Christian At & Pierre-Henri Morand, 2008. "Jump Bidding in Ascending Auctions: the Case of Takeover Contests," Post-Print hal-00448000, HAL.
    • Handle: RePEc:hal:journl:hal-00448000
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    Cited by:

    1. Dodonova, Anna, 2017. "Preemptive bidding and Pareto efficiency in takeover auctions," Economics Letters, Elsevier, vol. 159(C), pages 214-216.
    2. Dodonova, Anna, 2013. "Preemptive bidding in takeover auctions with externality," Journal of Economics and Business, Elsevier, vol. 69(C), pages 35-44.
    3. Dodonova, Anna & Khoroshilov, Yuri, 2014. "Can preemptive bidding in takeover auctions be socially optimal? Yes it can," The North American Journal of Economics and Finance, Elsevier, vol. 27(C), pages 34-47.
    4. Anna Dodonova & Yuri Khoroshilov, 2021. "Private Value Takeover Auctions with Toeholds: An Experimental Study," Games, MDPI, vol. 12(2), pages 1-10, May.
    5. Dodonova, Anna & Khoroshilov, Yuri, 2020. "Preemptive bidding in common value takeover auctions: Social surplus and the target’s revenue," The North American Journal of Economics and Finance, Elsevier, vol. 53(C).

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