Economics Asked by Max Görner on March 28, 2021
In my studies I learned about a bid war ending in a hostile takeover where the winner ended up paying less than the loser offered. It is a very nice demonstration of elements of game theory so I would like to reread that again and to recommend it to a friend.
Unfortunately, I cannot find it in the internet regardless of what search terms I try. I will state the details I remember. I would be very glad if the answer could tell which companies were included so I can research the interesting details.
Here we go:
I was unable to translate that list in sufficient search terms. Does it ring a bell for someone?
https://en.wikipedia.org/wiki/Pyrrhic_victory
Probably you are looking for this term. Today It describes any situation where a win is achieved at a such a large cost that it is likely that loosing was more profitable.
https://en.wikipedia.org/wiki/Dollar_bill_auction
This is somewhat similar situation in auctions
Answered by Surprised Seagull on March 28, 2021
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