EconPapers    
Economics at your fingertips  
 

Compulsory Disclosure of Private Information - Theoretical and Experimental Results for the Acquiring-a-Company Game

Alexandra Zaby (), Werner Güth (), Kerstin Pull and Manfred Stadler

Annual Conference 2014 (Hamburg): Evidence-based Economic Policy from Verein für Socialpolitik / German Economic Association

Abstract: Based on the acquiring-a-company game of Samuelson and Bazerman (1985), we theoretically and experimentally analyze the acquisition of a firm. Thereby we compare cases of symmetrically and asymmetrically informed buyers and sellers. This setting allows us to predict and test the effects of information disclosure as prescribed by two recently implemented directives of the European Union, the Transparency and the Takeover-Bid Directive. Our theoretical and experimental results suggest a welfare-enhancing effect of compulsory information disclosure. Hence, the EU Transparency and the EU Takeover-Bid Directive should both be welfare enhancing.

JEL-codes: C91 D82 D61 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-bec, nep-com and nep-exp
Date: 2014
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
https://www.econstor.eu/bitstream/10419/100520/1/VfS_2014_pid_138.pdf (application/pdf)

Related works:
Journal Article: Compulsory Disclosure of Private Information: Theoretical and Experimental Results for the Acquiring-a-Company Game (2019) Downloads
Working Paper: Compulsory Disclosure of Private Information Theoretical and Experimental Results for the "Acquiring-a-Company" Game (2014) Downloads
Working Paper: Compulsory disclosure of private information theoretical and experimental results for the "acquiring-a-company" game (2014) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:zbw:vfsc14:100520

Access Statistics for this paper

More papers in Annual Conference 2014 (Hamburg): Evidence-based Economic Policy from Verein für Socialpolitik / German Economic Association Contact information at EDIRC.
Bibliographic data for series maintained by ZBW - Leibniz Information Centre for Economics ().

 
Page updated 2019-12-18
Handle: RePEc:zbw:vfsc14:100520