Repeated Auctions of Incentive Contracts, Investment, and Bidding Parity with an Application to Takeovers

نویسندگان
چکیده

برای دانلود باید عضویت طلایی داشته باشید

برای دانلود متن کامل این مقاله و بیش از 32 میلیون مقاله دیگر ابتدا ثبت نام کنید

اگر عضو سایت هستید لطفا وارد حساب کاربری خود شوید

منابع مشابه

Working Paper Department of Economics Repeated Auctions of Incentive Contracts, Investment and Bidding Parity with an Application to Takeovers

This paper considers a two-period model of repeated franchise bidding or second sourcing. A regulator contracts with a single firm in each period, presumably because of increasing returns to scale. The incumbent firm invests in the first period. The investment may be transferable to a second source or not; and may be monetary or in human capital. Each firm has private information about its intr...

متن کامل

Auctions and Takeovers.

auctions and takeovers. Under Delaware law (the predominant corporate law in the US), when a potential acquirer makes a serious bid for a target, the target's board of directors is required to act as would " auctioneers charged with getting the best price for the stockholders at a sale of the company. " (Revlon v. MacAndrews & Forbes, 173). The target's board may not use defensive tactics that ...

متن کامل

Repeated Auctions under Budget Constraints: Optimal bidding strategies and Equilibria

How should agents bid in repeated sequential auctions when they are budget constrained? A motivating example is that of sponsored search auctions, where advertisers bid in a sequence of generalized second price (GSP) auctions. These auctions, specifically in the context of sponsored search, have many idiosyncratic features that distinguish them from other models of sequential auctions: First, e...

متن کامل

An Optimization Framework for Combining the Petroleum Replenishment Problem with the Optimal Bidding in Combinatorial Auctions

We address in this paper a periodic petroleum station replenishment problem (PPSRP) that aims to plan the delivery of petroleum products to a set of geographically dispatched stations. It is assumed that each station is characterized by its weekly demand and by its frequency of service. The main objective of the delivery process is to minimize the total travelled distance by the vailable trucks...

متن کامل

a comparison of teachers and supervisors, with respect to teacher efficacy and reflection

supervisors play an undeniable role in training teachers, before starting their professional experience by preparing them, at the initial years of their teaching by checking their work within the proper framework, and later on during their teaching by assessing their progress. but surprisingly, exploring their attributes, professional demands, and qualifications has remained a neglected theme i...

15 صفحه اول

ذخیره در منابع من


  با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید

ژورنال

عنوان ژورنال: The RAND Journal of Economics

سال: 1988

ISSN: 0741-6261

DOI: 10.2307/2555455