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 …

strategic decisions. While largely descriptive of tender offers for control, the auction framework also helps explain choices … made in takeover negotiations where the outside option is the outcome of an open auction. Empirical findings include the … public bid deters further competition. When rival bidder do enter the auction, they do so surprisingly quickly - within two …

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 …