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Sequential decision-making and asymmetric equilibria : an application to takeovers
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Gill, David and Sgroi, Daniel (2004) Sequential decision-making and asymmetric equilibria : an application to takeovers. Topics in Theoretical Economics, Vol.4 (No.1). doi:10.2202/1534-598X.1178 ISSN 1534-598X.
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Official URL: http://dx.doi.org/10.2202/1534-598X.1178
Abstract
With indivisible shareholdings and simultaneous shareholder decision-making, the existing takeover literature provides a reasonable profit only in asymmetric equilibria. We allow the raider to approach shareholders sequentially and thereby find a unique equilibrium that produces the same outcome.
Item Type: | Journal Article | ||||
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Subjects: | H Social Sciences > HG Finance | ||||
Divisions: | Faculty of Social Sciences > Economics | ||||
Library of Congress Subject Headings (LCSH): | Stockholders -- Econometric models, Consolidation and merger of corporations -- Econometric models | ||||
Journal or Publication Title: | Topics in Theoretical Economics | ||||
Publisher: | Walter De Gruyter | ||||
ISSN: | 1534-598X | ||||
Official Date: | December 2004 | ||||
Dates: |
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Volume: | Vol.4 | ||||
Number: | No.1 | ||||
DOI: | 10.2202/1534-598X.1178 | ||||
Status: | Peer Reviewed | ||||
Publication Status: | Published | ||||
Access rights to Published version: | Restricted or Subscription Access | ||||
Date of first compliant deposit: | 1 August 2016 | ||||
Date of first compliant Open Access: | 1 August 2016 |
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