Merger Negotiations and Ex-Post Regret
نویسندگان
چکیده
منابع مشابه
Merger negotiations and ex-post regret
We consider a setting in which two potential merger partners each possess private information pertaining both to the profitability of the merged entity and to stand-alone profits, and investigate the extent to which this private information makes ex-post regret an unavoidable phenomenon in merger negotiations. To this end, we consider ex-post mechanisms, which use both players’ reports to deter...
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In contexts in which players have no priors, we analyze a learning process based on ex-post regret as a guide to understand how to play games of incomplete information under private values. The conclusions depend on whether players interact within a fixed set (fixed matching) or they are randomly matched to play the game (random matching). The relevant long run predictions are minimal sets that...
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Concern about coordinated effects long has been central to U.S. merger policy. The first sets of Horizontal Merger Guidelines (“Guidelines”), issued by the Department of Justice in 1982 and 1984, focused their attention squarely on coordinated effects.1 The language of the 1984 Guidelines articulated the “unifying theme . . . that mergers should not be permitted to create or enhance ‘market pow...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2007
ISSN: 1556-5068
DOI: 10.2139/ssrn.1053461