Code Creation in Endogenous Merger Experiments.
We study the conflict that can occur in a merger due to firms' use of specialized language, or “code,” and whether participants accurately forecast this difficulty. After creating a shared code to describe different pictures accurately, subjects bid for extra payments to join a merged group. The two...
| Publicado en: | Economic Inquiry Vol. 48; no. 2; pp. 337 - 353 |
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| Autores principales: | , |
| Formato: | Artículo |
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Wiley-Blackwell
April 2010
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| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=511006489&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 511006489 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 00952583 EIQ jtl: Economic Inquiry issn: 00952583 maglogo: N pubinfo: dt: April 2010 vid: 48 iid: 2 pid: 480 pub: Wiley-Blackwell artinfo: ui: 511006489 10.1111/j.1465-7295.2009.00200.x ppf: 337 ppct: 16 formats: fmt: – @attributes: type: T – @attributes: type: C – @attributes: type: P size: 2.6MB tig: atl: Code Creation in Endogenous Merger Experiments. aug: au: Feiler, Lauren Camerer, Colin F. su: Mergers & acquisitions Experimental economics Corporate culture sug: subj: Mergers & acquisitions Experimental economics Corporate culture ab: We study the conflict that can occur in a merger due to firms' use of specialized language, or “code,” and whether participants accurately forecast this difficulty. After creating a shared code to describe different pictures accurately, subjects bid for extra payments to join a merged group. The two lowest bidders are placed in the merged group. Values inferred from two different bidding procedures indicate fairly accurate general appraisals of the cost of the merger, but the values of those subjects who bid the least, and choose to join the merged group, are too optimistic, reflecting an “organizational winner's curse.” (JEL D23, D83, G34, L21, M14) pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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