We analyze the dynamics of takeover contests where hostile raiders compete against white knights involved by a lead … to set a minimum takeover price. We characterize the conditions under which a white knight wins the takeover contest … white knights as an anti-takeover device and the role played by leading minority blockholders in the market for corporate …

-bidders' auction is similar to the Hawk-Dove game, which motivates to study symmetric NEs: Properties and comparative statics are …

predicts individual landowners' bids, overall participation rates in the auction, as well as the expected net benefits to the … conservation agency. We find that market efficiency of the auction increases in the number of potential corridors. We use … simulations to compare a benchmark auction with two policy scenarios in a hypothetical landscape. In one scenario, members of a …

firms' risk attitudes and the fact that future market prof-its are uncertain so that winning an auction is like winning a …

We study the relative performance of the first-price sealed-bid auction and the second-price sealed-bid auction in a … winner's payment to an outside observer. We find that the first-price sealed-bid auction in which the winner's payment is …

question of the value added of letting the sourcing process consist of both an auction and a negotiation stage, theoretically … auction is beneficial to the buyer compared to no communication and ex-ante communication. In a setting where the buyer and …