- Abstract:
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Which is the more profitable way to sell a company: a public auction or an optimally structured negotiation with a smaller number of bidders? We show that under standard assumptions the public auction is always preferable, even if it forfeits all the seller's negotiating power, including the ability to withdraw the object from sale, provided that it attracts at least one extra bidder. An immediate public auction also dominates negotiating while maintaining the right to hold an auction subsequ...
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- Volume:
- 4608
- Publication date:
- 1994-01-01
- URN:
-
uuid:a924ad0e-92f7-4590-8c0d-1fd01b3b39c0
- Local pid:
- oai:economics.ouls.ox.ac.uk:12005
- Language:
- English
- Copyright date:
- 1994
Working paper
Auctions vs. Negotiations.
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