Search results for "Common value auction"
showing 5 items of 15 documents
Participation Costs and Inefficiency in Takeover Contests
2010
We consider a takeover in which risk neutral bidders incur private costs to participate to the auction. Supposing that valuations for target firm are common knowledge, we study the optimal strategy of bidders and analyze the takeover result when they get or not toeholds in the target firm. We found that bidder's decision of participation is endogenous. By analyzing bidder's condition of participation, we found that the probability that the potential bidder with the highest valuation will not participate to the control, exists. We show that this probability increases with the size of toeholds possessed by the bidder with low valuation. Nevertheless, the size of toeholds possessed by the bidd…
Multiple Motivations Consequences on Bidder's Optimal Strategy in Takeover Contests
2011
This paper examines the optimal bidding strategy in takeover contests for a target firm, and the positive correlation between the bidders’ valuation. We consider risk neutral bidders who compete for the control of a target firm in which they get initial shareholdings. The bidder valuation for target firm is correlated with his motivations which determine the bidder’s strategy. We study bidder’s optimal strategy in mixed motivations setting. Since motivations are numerous, hypothesis of affiliated value in auctions allows to study bidder’s strategy. The paper shows that the impact of affiliation degree on bidder’s optimal strategy depends on their private signal and on the ratio between thei…
Impact of information and in-home sensory exposure on liking and willingness to pay: The beginning of Fairtrade labeled coffee in France.
2015
This study was conducted to assess how the Fairtrade label interacts with the perception of intrinsic product characteristics on liking and purchase decisions and to estimate the evolution of this interaction after exposure to the coffees and/or exposure to ethical information. In a first session, 119 consumers gave liking scores for 2 regular and 2 Fairtrade coffees under a blind tasting condition. Then, they were asked to indicate the maximum price they would pay for each product in 2 auctions taking place under different information conditions. In the first auction, participants saw the packaging but did not taste the coffee; in the second auction, they could both taste the coffee and se…
Revisiting the Salt Lake City Olympic scandal: Would the outcome be different today?
2016
Many international sport organizations face bribery scandals resulting from its event bidding process. The International Olympic Committee (IOC) faced this type of scandal with the 2002 Olympic Winter Games. Two members of the Salt Lake City Organizing Committee (SLOC) faced 15 criminal charges from providing more than US$1.2 million in cash and gifts to entice IOC members to support its bid. Ultimately both SLOC members were acquitted of all charges. Can a new interpretation of the United States’ anti-bribery law, the Foreign Corrupt Practices Act (FCPA), be effective in preventing similar sport scandals? peerReviewed
E-Fairs: a Cyber-Physical System for Aggregation and Economy of Scale in e-Commerce
2018
In recent years, the e-commerce arena has deeply changed because of the advent of new business models and the growing weight of huge global actors like Amazon. Some business models create competition between users, and the product price tends to rise (e.g., online auctions); other models, including group-buying, make users cooperate, and the price tends to go down. The present study extends the group-buying model and proposes a cyber-physical system called e-fair, in which both sellers and buyers are grouped to negotiate on a specific product or service. E-fairs minimize the global purchase price and the shipping resources respectively with the aggregation of demand and supply as well as or…