Leufkens, Kasper; Peeters, Ronald; Vorsatz, Marc - Maastricht : METEOR, Maastricht Research School of … - 2006
In this paper we show experimentally that in a sequential auction the presence of synergies leads to more overbidding which in turn may result in bankruptcies. In line with theoretical predictions we find that the seller benefits from the buyers’ synergies. In contrast to theory the buyers...