Sequential decision-making and asymmetric equilibria: an application to takeovers
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.
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
2004-12.
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| Subjects: | |
| Online Access: | Get fulltext |