Search Results - subject:"Winner's curse"

Efficiency in auctions with private and common values : an experimental study

Goeree, Jacob K.; Offerman, Theo - 2000

motivated bidders. While some subjects fall prey to the winner's curse, they weigh their private and common value information in …

Persistent link: https://www.econbiz.de/10011303292

Compensating for the winner's curse : experimental evidence

Parlour, Christine A.; Prasnikar, Vesna; Rajan, Uday - In: Games and economic behavior 60 (2007) 2, pp. 339-356

Persistent link: https://www.econbiz.de/10003522785

Selection of Boundedly Rational Firms and the Allocation of Resources

Saint-Paul, Gilles - C.E.P.R. Discussion Papers - 2006

I study how savers allocate funds between boundedly rational firms which follow simple pricing rules. Firms need cash to pay their inputs in advance, and savers-shareholders allocate cash between them so as to maximize their rate of return. When the rate of return on each firm is observed, there...

Persistent link: https://www.econbiz.de/10005666616

The Benefit of Excluding Institutional Investors from Fixed-Price IPOs: Evidence from Taiwan

Chen, Anlin; Kao, Lanfeng - In: Emerging Markets Finance and Trade 42 (2006) 6, pp. 5-24

A simple way to mitigate the winner's curse in initial public offerings (IPOs) is to reduce the number of informed … institutional investors raises uninformed investors' allocation rates. We show that the winner's curse is still present in Taiwan … at least 4 percent due to alleviating the winner's curse, as institutional investors are excluded from the fixed …

Persistent link: https://www.econbiz.de/10005753588

An empirical examination of IPO underpricing in the Chinese A-share market

Yu, Ting; Tse, Yiu Kuen - In: China economic review : an international journal 17 (2006) 4, pp. 363-382

Persistent link: https://www.econbiz.de/10015174837

Bookbuilding with heterogeneous investors

Leite, Tore - In: Journal of financial intermediation 15 (2006) 2, pp. 235-253

Persistent link: https://www.econbiz.de/10003310845

Fairness in interorganizational project relations: norms and strategies

Kadefors, Anna - In: Construction Management and Economics 23 (2005) 8, pp. 871-878

There is a strong preference for fairness in human interaction, so that people who experience unfairness tend to react with anger, resentment and loss of motivation. Concerns to appear fair influence the behaviour of both individuals and firms. Perceptions of fairness are susceptible to framing...

Persistent link: https://www.econbiz.de/10005482634

Optimal Privatization Using Qualifying Auctions

Boone, Jan; Goeree, Jacob K. - C.E.P.R. Discussion Papers - 2005

This paper explores the use of auctions for privatizing public assets. In our model, a single ‘insider’ bidder (e.g. incumbent management of a government-owned firm) possesses information about the asset’s risky value. In addition, bidders are privately informed about their costs of...

Persistent link: https://www.econbiz.de/10005497839

Naive Bidding

Deltas, George; Engelbrecht-Wiggans, Richard - In: Management Science 51 (2005) 3, pp. 328-338

value auction in which a "naive" bidder (who ignores the winner's curse) competes against a fully rational bidder. We show …

Persistent link: https://www.econbiz.de/10009203703

Optimal privatization using qualifying auctions

Boone, Jan; Goeree, Jacob K. - 2005

Persistent link: https://www.econbiz.de/10003025801