Lindqvist, Tobias; Stennek, Johan - Institutet för Näringslivsforskning (IFN) - 2001
This paper tests the insiders' dilemma hypothesis in a laboratory experiment. The insiders' dilemma means that a profitable merger does not occur, because it is even more profitable for each firm to unilaterally stand as an outsider (Kamien and Zang, 1990 and 1993). The experimental data...