A Sealed-Bid Auction that Matches the English Auction

Motty Perry (), Elmar Wolfstetter () and Shmuel Zamir

No CESifo Working Paper No. 249, CESifo Working Paper Series from CESifo Group Munich

Abstract: This paper analyzes a two-stage sealed-bid auction that is frequently employed in privatization, takeover, and merger and acquisition contests. This auction format yields the same expected revenue as the open ascending (English) auction, yet is less susceptible to preemptive bidding and collusion.

Keywords: Auctions (search for similar items in EconPapers)
JEL-codes: D44 (search for similar items in EconPapers)
Date: Written
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Related works:
Working Paper: A Sealed-Bid Auction that Matches the English Auction
Journal Article: A Sealed-Bid Auction That Matches the English Auction (2000)
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