This paper analyses the efficiency of the Texas shootout and ½-auction partnership dissolution mechanisms when one of the partners has a chance to observe the other partner's valuation. The efficiency of the Texas shootout mechanism positively depends on the probability of such observation...

This paper presents the results of an experimental study of preemptive jump bidding in English auctions with a flexible reserve price. While one of the possible explanations for jump bidding is based on signaling arguments, the ability of the seller to adjust his decision to accept an offer...

This paper develops a model of takeover auctions with a two-step information acquisition process. It shows that the threat of extra information acquisition allows the existence of the signaling jump-bidding equilibrium even when the seller is able to change its reserve price on the basis of the...