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Efficiency and information aggregation in auctions with costly information

✍ Scribed by Matthew O. Jackson

Publisher
Elsevier Science
Year
2003
Tongue
English
Weight
226 KB
Volume
8
Category
Article
ISSN
1434-4750

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Investing in capabilities: bidding in strategic factor markets with costly information
✍ Catherine A. Maritan; Robert E. Florence πŸ“‚ Article πŸ“… 2008 πŸ› John Wiley and Sons 🌐 English βš– 169 KB

## Abstract We explore how firms invest in capabilities by acquiring assets in strategic factor markets. We formalize the problem using an auction model in which heterogeneous firms bid for an asset to investigate relationships among expected returns to the investment, information used to estimate