I survey a literature on auctions with contingent payments, that is auctions in which
payments are allowed to depend on an ex-post verifiable variable, such as revenues in oil …

Although acquisitions are a popular form of investment, the link between firms' financial
constraints and acquisition policies is not well understood. We develop a model in which …

We study the performance of cash-and equity-bid security auctions in an experiment using
first-and second-price pricing rules. Theory predicts revenue equivalence between first-and …

A privately informed issuer raises project financing from an uninformed investor through a
security sale. The investor faces Knightian uncertainty and evaluates each security by the …

In this paper, we demonstrate the efficiency of seller entry in a model of competing auctions
in which we allow for both buyer and seller heterogeneity. This generalizes existing …

We endogenize entry to a security-bid auction, where participation is costly and bidders
must decide given their private valuations whether to participate. We first consider any …

I analyze the effects of heterogeneity in terms of bidders' valuation distributions and
standalone values in equity auctions—auctions in which bidders offer equities rather than …

This paper argues that endogenizing how acquirers finance their cash bids is just as
important for understanding bidding in takeovers as endogenizing acquirers׳ payment …

In our target‐initiated theory of takeovers, a target approaches potential acquirers that
privately know their standalone values and merger synergies, where higher synergy …

Online social networks are increasingly being used to conduct commercial activities, and
many online social networking platforms allow users to sell products to their online …