Paul Klemperer Abstract The existence of a 145biddi Furthermore we argue that the term 145bidding market146 as it is widely used in antitrust is unhelpful or misleading Auctions and biddi ID: 319415
Download Pdf The PPT/PDF document "BIDDING MARKETS" is the property of its rightful owner. Permission is granted to download and print the materials on this web site for personal, non-commercial use only, and to display it on your personal computer provided you do not modify the materials and that you retain all copyright notices contained in the materials. By downloading content from our website, you accept the terms of this agreement.
BIDDING MARKETS Paul Klemperer * Abstract The existence of a ‘biddi Furthermore we argue that the term ‘bidding market’ as it is widely used in antitrust is unhelpful or misleading. Auctions and bidding processes do have some special features—including their price formation processes, common-values behaviour, and bid-taker power—but the significance of these features has been overemphasized, and paul.klemperer@economics.ox.ac.uk ; www.paulklemperer.org . *