place in the auction rendering the negotiation prior to the auction obsolete. An experimental test of the model provides … one potential buyer about the price of the good. If the negotiation fails to produce a sale, a second 'price sealed' bid … auction with an additional buyer is conducted. The theoretical model predicts that with risk neutral agents all sales take …

place in the auction rendering the negotiation prior to the auction obsolete. An experimental test of the model provides … one potential buyer about the price of the good. If the negotiation fails to produce a sale, a second–price sealedâ …€“bid auction with an additional buyer is conducted. The theoretical model predicts that with risk neutral agents all sales take …

place in the auction rendering the negotiation prior to the auction obsolete. An experimental test of the model provides … one potential buyer about the price of the good. If the negotiation fails to produce a sale, a second 'price sealed' bid … auction with an additional buyer is conducted. The theoretical model predicts that with risk neutral agents all sales take …

place in the auction rendering the negotiation prior to the auction obsolete. An experimental test of the model provides … one potential buyer about the price of the good. If the negotiation fails to produce a sale, a second-price sealed …-bid auction with an additional buyer is conducted. The theoretical model predicts that with risk neutral agents all sales take …

emerge from this study. First, REITs most often utilize a sales process resembling an auction, where an average of 19 …

businesses in a negotiation with one buyer. I argue that, when potential buyers are market competitors, an auction may generate …Intuition suggests that an auction maximizes revenue for the seller; yet empirically, many companies sell their … lower revenue for the seller. First, in an auction, private information of the seller is disclosed to all bidders during the …

cash and stock used to finance the takeover (the method of payment). Within this framework, we analyze the effect of the …

made in takeover negotiations where the outside option is the outcome of an open auction. Empirical findings include the … decisions involved in any corporate takeover attempt: (1) deal initiation, (2) pre-offer toehold acquisition, (3) offer price … strategic decisions. While largely descriptive of tender offers for control, the auction framework also helps explain choices …

ownership (toeholds). We find that the optimal mechanism needs to be implemented by a non-standard auction which imposes a bias … mechanism of sequential negotiation replicates the main properties of the optimal procedure and yields a higher average selling … price than the standard auctions commonly used in takeover battles. …

). We find that the optimal mechanism needs to be implemented by a non-standard auction which imposes a bias against buyers … of the common toehold and the asymmetry in these stakes. Furthermore, a simple mechanism of sequential negotiation … commonly used in takeover battles …