Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/75539 
Year of Publication: 
2000
Series/Report no.: 
CESifo Working Paper No. 249
Publisher: 
Center for Economic Studies and ifo Institute (CESifo), 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.
Subjects: 
Auctions
JEL: 
D44
Document Type: 
Working Paper
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