Huibers, Fred E. - In: Journal of risk and financial management : JRFM 13 (2020) 6/115, pp. 1-14
-restricted auctions that also offer investors a discount are likely to produce the most accurate and reliable price discovery and … investors to reliably contribute to price discovery. The resulting underpricing (and its variability) of these auctions is … auctions for IPO pricing and allocation. IPO firms face a trade-off between the benefit of accurate and reliable IPO price …