search query: @author Klemperer, P. / total: 14
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| Author: | Klemperer, P. |
| Title: | Auctions with almost common values: The 'Wallet Game' and its applications |
| Journal: | European Economic Review
1998 : MAY, VOL. 42:3-5, p. 757-769 |
| Index terms: | MERGERS COMPANIES AUCTIONS GAMES |
| Language: | eng |
| Abstract: | A classroom game, the 'Wallet Game' is used, to show that slight asymmetries btw. bidders can have very large effects on prices in standard ascending (i. e. English) auctions of common-value objects. Applications to Airwaves Auctions and Takeover Battles are discussed, incl. the Glaxo-Wellcome merger. |
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