Nothing Special   »   [go: up one dir, main page]

create a website
Strategic Merger Waves: A Theory of Musical Chairs. (2007). Toxvaerd, Flavio.
In: CEPR Discussion Papers.
RePEc:cpr:ceprdp:6159.

Full description at Econpapers || Download paper

Cited: 20

Citations received by this document

Cites: 31

References cited by this document

Cocites: 50

Documents which have cited the same bibliography

Coauthors: 0

Authors who have wrote about the same topic

Citations

Citations received by this document

  1. Strategic experimentation in queues. (2019). Thomas, Caroline ; Cripps, Martin.
    In: Theoretical Economics.
    RePEc:the:publsh:1796.

    Full description at Econpapers || Download paper

  2. Incomplete Information in Macroeconomics: Accommodating Frictions in Coordination. (2016). Angeletos, George-Marios ; Lian, Chen.
    In: NBER Working Papers.
    RePEc:nbr:nberwo:22297.

    Full description at Econpapers || Download paper

  3. Vertical or Horizontal: Endogenous Merger Waves in Vertically Related Industries. (2015). Yao, Zhiyong ; Wen, Zhou ; Zhiyong, Yao .
    In: The B.E. Journal of Economic Analysis & Policy.
    RePEc:bpj:bejeap:v:15:y:2015:i:3:p:1237-1262:n:15.

    Full description at Econpapers || Download paper

  4. A Model of Dynamic Limit Pricing with an Application to the Airline Industry. (2014). Sweeting, Andrew ; Roberts, James W. ; Gedge, Christopher .
    In: NBER Working Papers.
    RePEc:nbr:nberwo:20293.

    Full description at Econpapers || Download paper

  5. Fragility of reputation and clustering of risk-taking. (2013). Ordonez, Guillermo.
    In: Theoretical Economics.
    RePEc:the:publsh:1207.

    Full description at Econpapers || Download paper

  6. Endogenous Merger Waves in Vertically Related Industries. (2011). Yao, Zhiyong ; Zhou, Wen.
    In: Working Papers.
    RePEc:net:wpaper:1134.

    Full description at Econpapers || Download paper

  7. Shocks and Crises in the Long Run. (2010). Frankel, David.
    In: Staff General Research Papers Archive.
    RePEc:isu:genres:31687.

    Full description at Econpapers || Download paper

  8. Rent Seeking and Economic Fragility. (2010). Frankel, David.
    In: Levine's Bibliography.
    RePEc:cla:levrem:661465000000000159.

    Full description at Econpapers || Download paper

  9. Fragility of reputation and clustering of risk-taking. (2009). Ordonez, Guillermo ; Ordoez, Guillermo L..
    In: Staff Report.
    RePEc:fip:fedmsr:431.

    Full description at Econpapers || Download paper

  10. Countries of a Feather flock together. (2008). Marrewijk, Charles ; Garita, Gus ; van Marrewijk, Charles.
    In: Tinbergen Institute Discussion Papers.
    RePEc:tin:wpaper:20080067.

    Full description at Econpapers || Download paper

  11. Fragility of Reputation and Clustering in Risk Taking. (2008). Ordonez, Guillermo.
    In: 2008 Meeting Papers.
    RePEc:red:sed008:441.

    Full description at Econpapers || Download paper

  12. Recursive Global Games. (2007). Toxvaerd, Flavio ; Giannitsarou, Chryssi.
    In: CEPR Discussion Papers.
    RePEc:cpr:ceprdp:6470.

    Full description at Econpapers || Download paper

  13. Coordination Cycles. (2006). Steiner, Jakub.
    In: Edinburgh School of Economics Discussion Paper Series.
    RePEc:edn:esedps:162.

    Full description at Econpapers || Download paper

  14. An equilibrium approach to international merger policy. (2005). Cabral, Luis.
    In: International Journal of Industrial Organization.
    RePEc:eee:indorg:v:23:y:2005:i:9-10:p:739-751.

    Full description at Econpapers || Download paper

  15. Cross-Border Mergers as Instruments of Comparative Advantage. (2004). Neary, Peter J..
    In: University of Göttingen Working Papers in Economics.
    RePEc:zbw:cegedp:34.

    Full description at Econpapers || Download paper

  16. Recursive global games. (2004). Toxvaerd, Flavio ; Giannitsarou, Chryssi.
    In: Money Macro and Finance (MMF) Research Group Conference 2003.
    RePEc:mmf:mmfc03:104.

    Full description at Econpapers || Download paper

  17. Cross-Border Mergers as Instruments of Comparative Advantage. (2004). .
    In: Center for Globalization and Europeanization of the Economy (CeGE) Discussion Papers.
    RePEc:got:cegedp:34.

    Full description at Econpapers || Download paper

  18. Anticipation, Acquisitions and the Bidder Return Puzzle. (2004). Walkling, Ralph A. ; Song, Moon H..
    In: Working Paper Series.
    RePEc:ecl:ohidic:2004-15.

    Full description at Econpapers || Download paper

  19. An Equilibrium Approach to International Merger Policy. (2003). Cabral, Luis ; Luis M. B. Cabral, .
    In: Working Papers.
    RePEc:ste:nystbu:03-25.

    Full description at Econpapers || Download paper

  20. An Equilibrium Approach to International Merger Policy. (2003). Cabral, Luis.
    In: CEPR Discussion Papers.
    RePEc:cpr:ceprdp:3878.

    Full description at Econpapers || Download paper

References

References cited by this document

  1. [1] ABREU, D. AND M. K. BRUNNERMEIER (2003): Bubbles and Crashes, Econometrica, 71(1), 172-204.

  2. [10] CRAMTON, P. AND A. SCHWARTZ (1991): Using Auction Theory to Inform Takeover Regulation, Journal of Law, Economics and Organization, 7(1), 27-53.

  3. [11] FAULI-OLLER, R. (2000): Takeover Waves, Journal of Economics and Management Strategy, 9(2), 189-210. 12To see this, define the mapping LA(zt, xt, 9t) = V(zt, XL, 9t) R(zt, XL, 9t). Straightforward manipulation yields LA(zt, XL, 9t) = max{O, -R(zt, XL, 9t) + SE[R(zt+i, Xt+1, 9t+i)~9t] + SE[A(zt+i, Xt+1, 9t+i)~9t]}. Under Assumption A3-A4, this defines a mapping L from ~[Y~ x X~ x R] into itself which is strictly increasing in 9~. Furthermore, the mapping L is a contraction with a unique fixed point. Last, note that since W(zt, XL, 9~) = SV(zt,Xt,9t), it follows that A(zt,Xt,9t) =max{O,L~(zt,Xt,9t)}. STRATEGIC MERGER WAVES 25
    Paper not yet in RePEc: Add citation now
  4. [12] FRANKEL, D., S. MORRIS AND A. PAUZNER (2003): Equilibrium Selection in Global Games with Strategic Complementarities, Journal of Economic Theory, 108, 1-44.

  5. [13] FRIDOLFSSON, S.-O. AND J. STENNEK (2005): Why Mergers Reduce Profits and Raise Share Prices - A Theory of Preemptive Mergers, Journal of the European Economic Association, 3(5), 1083-1104.

  6. [14] GOLBE, D. L. AND L. J. WHITE (1988): A Time-Series Analysis of Mergers and Acquisitions in the U.S. Economy, in Corporate Takeovers: Causes and Consequences, A. J. Auerbach (ed.), University of Chicago Press/NBER.
    Paper not yet in RePEc: Add citation now
  7. [15] GOLDSTEIN, I. AND A. PAUZNER (2005): Demand Deposit Contracts and the Probability of Bank Runs, Journal of Finance, 60(3), 1293-1328.

  8. [16] GORT, M. (1969): An Economic Disturbance Theory of Mergers, Quarterly Journal of Economics, 83(4), 624-642.

  9. [17] HEIDHUES, P. AND N. MELISSAS (2006): Equilibria in a Dynamic Global Game: The Role of Cohort Effects, Economic Theory, 28(3), 531-557.

  10. [18] JOVANOVIC, B. AND P. L. ROUSSEAU (2002): The Q-Theory of Mergers, AEA Papers ~1 Proceedings, May issue, 198-204.

  11. [19] JOVANOVIC, B. AND P. L. ROUSSEAU (2004): Mergers as Reallocation, NBER Working Paper No. 9279.

  12. [21] MAKSIMOVIC, V. AND G. PHILLIPS (2002): Do Conglomerate Firms Allocate Resources Inefficiently Across Industries? Theory and Evidence, Journal of Finance, 57(2), 721767.

  13. [23] MASON, R. AND H. WEEDS (2005): The Timing of Takeovers, mimeo.
    Paper not yet in RePEc: Add citation now
  14. [24] MITCHELL, M. L. AND J. H. MULHERIN (1996): The Impact of Industry Shocks on Takeover and Restructuring Activity, Journal of Financial Economics, 41, 193-229.

  15. [25] MORRIS, S. AND H. S. SHIN (1998): Unique Equilibrium in a Model of Self-Fulfilling Currency Attacks, American Economic Review, 88, 587-597.

  16. [26] MORRIS, S. AND H. S. SHIN (1999): A Theory of the Onset of Currency Attacks, in The Asian Financial Crisis, P.-R. Agenor, M. Miller, D. Vines and A. Weber (eds.), Cambridge University Press.

  17. [27] MORRIS, S. AND H. S. SHIN (2003): Global Games: Theory and Applications, forthcoming in Advances in Economics and Econometrics, the Eighth World Congress (M. Dewatripont, L. Hansen and S. Turnovsky, eds.), Cambridge University Press. 26 F. TOXVAERD
    Paper not yet in RePEc: Add citation now
  18. [29] RHODES-KROPF, M. AND S. VISWANATHAN (2004): Market Valuation and Merger Waves, Journal of Finance, 59(6), 2685-2718.

  19. [3] ANDRADE, A. AND E. STAFFORD (2004): Investigating the Economic Role of Mergers, Journal of Corporate Finance, 10, 1-36.

  20. [31] SMIT, H. T. J., W. A. VAN DEN BERG AND W. DE MAESENEIRE (2005): Acquisitions as a Real Options Bidding Game, mimeo.

  21. [32] STEINER, J. (2005): Coordination Cycles, mimeo.
    Paper not yet in RePEc: Add citation now
  22. [33] STOKEY, N. L., R. E. LUCAS, JR., WITH E. C. PRESCOTT (1989): Recursive Methods in Economic Dynamics, Harvard University Press.
    Paper not yet in RePEc: Add citation now
  23. [35] TOXVAERD, F. (2005): Mergers, Diversification and Financial Intermediation, mimeo.

  24. [36] TOXVAERD, F. (2004): Strategic Merger Waves: A Theory of Musical Chairs, Center for the Study of Rationality, Hebrew University of Jerusalem Working Paper no. 359.

  25. [37] WESTON, J. F., K. S. CHUNG AND S. E. H0AG (1990): Mergers, Restructuring and Corporate Control, Prentice Hall, Inc., Englewood Cliffs, New Jersey.
    Paper not yet in RePEc: Add citation now
  26. [4] ANDRADE, G., M. MITCHELL AND E. STAFFORD (2001): New Evidence and Perspectives on Mergers, Journal of Economic Perspectives, 15(2), 103-120.

  27. [5] ANGELETOS, G.-M., C. HELLWIG AND A. PAVAN (2003): Coordination and Policy Traps, NBER Working Paper 9767.

  28. [6] ATHEY, 5. (2002): Monotone Comparative Statics Under Uncertainty, Quarterly Journal of Economics, CXVII (1), 187-223.

  29. [7] BLAIR, M. M. AND M. A. SCHARY (1993): Industry-Level Pressures to Restructure, in The Deal Decade: What Takeovers and Leveraged Buyouts Mean for Corporate Governance, M. M. Blair (ed.), The Brookings Institution, Washington D. C.
    Paper not yet in RePEc: Add citation now
  30. [8] CABRAL, L. M. B. (2000): Introduction to Industrial Organization, MIT Press.

  31. [9] CRAMTON, P. (1998): Auctions and Takeovers, in The New Palgrave Dictionary of Law and Economics, P. Neuman (ed.), London: MacMillan Press, 1, 122-125.
    Paper not yet in RePEc: Add citation now

Cocites

Documents in RePEc which have cited the same bibliography

  1. The Rand as a Carry Trade Target: Risk, Returns and Policy Implications. (2011). Hassan, Shakill ; Smith, Sean.
    In: Working Papers.
    RePEc:rza:wpaper:235.

    Full description at Econpapers || Download paper

  2. Regulatory reform : integrating paradigms. (2009). Ize, Alain ; de la Torre, Augusto.
    In: Policy Research Working Paper Series.
    RePEc:wbk:wbrwps:4842.

    Full description at Econpapers || Download paper

  3. Knowledge, Preferences and Shocks in Portfolio Analysis. (2009). Steinbacher, Matjaz.
    In: MPRA Paper.
    RePEc:pra:mprapa:13567.

    Full description at Econpapers || Download paper

  4. Speculative Attacks: A Laboratory Study in Continuous Time. (2009). Friedman, Daniel ; Cheung, Yin-Wong.
    In: Working Papers.
    RePEc:hkm:wpaper:072009.

    Full description at Econpapers || Download paper

  5. A Computational View of Market Efficiency. (2009). Lo, Andrew ; Hasanhodzic, Jasmina ; Viola, Emanuele .
    In: Papers.
    RePEc:arx:papers:0908.4580.

    Full description at Econpapers || Download paper

  6. Caller Number Five and Related Timing Games. (2008). Smith, Lones ; Park, Andreas.
    In: Working Papers.
    RePEc:tor:tecipa:tecipa-317.

    Full description at Econpapers || Download paper

  7. Bid-Ask Spreads and Volume:The Role of Trade Timing. (2008). Park, Andreas.
    In: Working Papers.
    RePEc:tor:tecipa:tecipa-309.

    Full description at Econpapers || Download paper

  8. Thought and Behavior Contagion in Capital Markets. (2008). Teoh, Siew Hong ; Hirshleifer, David.
    In: MPRA Paper.
    RePEc:pra:mprapa:9164.

    Full description at Econpapers || Download paper

  9. Market Bubbles and Chrashes. (2008). Kaizoji, Taisei ; Sornette, Didier.
    In: MPRA Paper.
    RePEc:pra:mprapa:15204.

    Full description at Econpapers || Download paper

  10. Deciphering the Liquidity and Credit Crunch 2007-08. (2008). Brunnermeier, Markus.
    In: NBER Working Papers.
    RePEc:nbr:nberwo:14612.

    Full description at Econpapers || Download paper

  11. Inexperienced Investors and Bubbles. (2008). Nagel, Stefan ; Greenwood, Robin.
    In: NBER Working Papers.
    RePEc:nbr:nberwo:14111.

    Full description at Econpapers || Download paper

  12. A leverage-based model of speculative bubbles. (2008). Barlevy, Gadi.
    In: Working Paper Series.
    RePEc:fip:fedhwp:wp-08-01.

    Full description at Econpapers || Download paper

  13. Speculative growth and overreaction to technology shocks. (2008). Lansing, Kevin.
    In: Working Paper Series.
    RePEc:fip:fedfwp:2008-08.

    Full description at Econpapers || Download paper

  14. Venture Capital and Innovation: Which is First?. (2008). Ueda, Masako ; Hirukawa, Masayuki.
    In: CEPR Discussion Papers.
    RePEc:cpr:ceprdp:7090.

    Full description at Econpapers || Download paper

  15. Strong Bubbles and Common Expected Bubbles in a Finite Horizon Model. (2008). Zheng, Jie.
    In: Levine's Working Paper Archive.
    RePEc:cla:levarc:814577000000000038.

    Full description at Econpapers || Download paper

  16. Should Central Banks Burst Bubbles? Some Microeconomic Issues. (2008). Conlon, John.
    In: Levine's Working Paper Archive.
    RePEc:cla:levarc:122247000000002330.

    Full description at Econpapers || Download paper

  17. Speculative Attacks: A Laboratory Study in Continuous Time. (2008). Friedman, Daniel ; Cheung, Yin-Wong.
    In: CESifo Working Paper Series.
    RePEc:ces:ceswps:_2420.

    Full description at Econpapers || Download paper

  18. Feedback Trading and Intermittent Market Turbulence. (2008). TAMBAKIS, DEMOSTHENES.
    In: Cambridge Working Papers in Economics.
    RePEc:cam:camdae:0847.

    Full description at Econpapers || Download paper

  19. Discrete devaluations and multiple equilibria in a first generation model of currency crises. (2007). Broner, Fernando.
    In: Economics Working Papers.
    RePEc:upf:upfgen:839.

    Full description at Econpapers || Download paper

  20. WHY BUBBLE-BURSTING IS UNPREDICTABLE: WELFARE EFFECTS OF ANTI-BUBBLE POLICY WHEN CENTRAL BANKS MAKE MISTAKES. (2007). Kai, Guo ; Conlon, John.
    In: MPRA Paper.
    RePEc:pra:mprapa:5927.

    Full description at Econpapers || Download paper

  21. Advisors and Asset Prices: A Model of the Origins of Bubbles. (2007). Xiong, Wei ; Scheinkman, Jose ; Hong, Harrison.
    In: NBER Working Papers.
    RePEc:nbr:nberwo:13504.

    Full description at Econpapers || Download paper

  22. Imperfect Common Knowledge in First-Generation Models of Currency Crises. (2007). Afonso, Gara.
    In: International Journal of Central Banking.
    RePEc:ijc:ijcjou:y:2007:q:1:a:3.

    Full description at Econpapers || Download paper

  23. Rational and near-rational bubbles without drift. (2007). Lansing, Kevin.
    In: Working Paper Series.
    RePEc:fip:fedfwp:2007-10.

    Full description at Econpapers || Download paper

  24. Emerging markets in financial globalization: striking the right balance for liberalization. (2007). Watanagase, Tarisa.
    In: Proceedings.
    RePEc:fip:fedfpr:y:2007:x:6.

    Full description at Econpapers || Download paper

  25. Strategic Merger Waves: A Theory of Musical Chairs. (2007). Toxvaerd, Flavio.
    In: CEPR Discussion Papers.
    RePEc:cpr:ceprdp:6159.

    Full description at Econpapers || Download paper

  26. SOBRE BURBUJAS DE PRECIOS DE ACTIVOS, EXPECTATIVAS Y EQUILIBRIOS. (2007). Dapena, Jose.
    In: CEMA Working Papers: Serie Documentos de Trabajo..
    RePEc:cem:doctra:361.

    Full description at Econpapers || Download paper

  27. Caller Number Five: Timing Games that Morph from One Form to Another. (2006). Smith, Lones ; Park, Andreas.
    In: Cowles Foundation Discussion Papers.
    RePEc:cwl:cwldpp:1554.

    Full description at Econpapers || Download paper

  28. Discrete Devaluations and Multiple Equilibria in a First Generation Model of Currency Crises. (2006). Broner, Fernando.
    In: CEPR Discussion Papers.
    RePEc:cpr:ceprdp:5876.

    Full description at Econpapers || Download paper

  29. Optimal monetary policy in a regime-switching economy: the response to abrupt shifts in exchange rate dynamics. (2006). Zampolli, Fabrizio.
    In: Bank of England working papers.
    RePEc:boe:boeewp:297.

    Full description at Econpapers || Download paper

  30. Should Central Banks Burst Bubbles?. (2005). Conlon, John.
    In: Game Theory and Information.
    RePEc:wpa:wuwpga:0508007.

    Full description at Econpapers || Download paper

  31. Technological innovation and market turbulence: the dot-com experience. (2005). Wang, Zhu.
    In: Payments System Research Working Paper.
    RePEc:fip:fedkpw:psrwp05-02.

    Full description at Econpapers || Download paper

  32. Asset Price Dynamics When Traders Care About Reputation. (2005). Prat, Andrea ; Dasgupta, Amil.
    In: CEPR Discussion Papers.
    RePEc:cpr:ceprdp:5372.

    Full description at Econpapers || Download paper

  33. Reputation and Asset Prices: A Theory of Information Cascades and Systematic Mispricing. (2005). Prat, Andrea ; Dasgupta, Amil.
    In: Levine's Bibliography.
    RePEc:cla:levrem:784828000000000368.

    Full description at Econpapers || Download paper

  34. Fundamental and Non-Fundamental Equilibria in the Foreign Exchange Market. A Behavioural Finance Framework. (2005). De Grauwe, Paul ; Dieci, Roberto ; Grimaldi, Marianna.
    In: CESifo Working Paper Series.
    RePEc:ces:ceswps:_1431.

    Full description at Econpapers || Download paper

  35. Riding the South Sea bubble. (2004). Voth, Hans-Joachim ; Tenim, Peter.
    In: Economics Working Papers.
    RePEc:upf:upfgen:861.

    Full description at Econpapers || Download paper

  36. Predatory Trading. (2004). Pedersen, Lasse ; Brunnermeier, Markus.
    In: NBER Working Papers.
    RePEc:nbr:nberwo:10755.

    Full description at Econpapers || Download paper

  37. Shakeouts and Market Crashes. (2004). Jovanovic, Boyan ; barbarino, alessandro.
    In: NBER Working Papers.
    RePEc:nbr:nberwo:10556.

    Full description at Econpapers || Download paper

  38. Inference, arbitrage, and asset price volatility. (2004). Adrian, Tobias.
    In: Staff Reports.
    RePEc:fip:fednsr:187.

    Full description at Econpapers || Download paper

  39. Predatory Trading. (2004). Pedersen, Lasse ; Brunnermeier, Markus.
    In: Econometric Society 2004 North American Winter Meetings.
    RePEc:ecm:nawm04:425.

    Full description at Econpapers || Download paper

  40. Learning the CAPM through Bubbles. (2004). Kedar-Levy, Haim.
    In: Econometric Society 2004 Far Eastern Meetings.
    RePEc:ecm:feam04:775.

    Full description at Econpapers || Download paper

  41. Riding the South Sea Bubble. (2004). Voth, Hans-Joachim ; Temin, Peter.
    In: CEPR Discussion Papers.
    RePEc:cpr:ceprdp:4221.

    Full description at Econpapers || Download paper

  42. Bubbles and Crashes in a Behavioural Finance Model. (2004). De Grauwe, Paul ; Grimaldi, Marianna.
    In: CESifo Working Paper Series.
    RePEc:ces:ceswps:_1194.

    Full description at Econpapers || Download paper

  43. Riding the South Sea Bubble. (2004). Voth, Hans-Joachim ; Temin, Peter.
    In: American Economic Review.
    RePEc:aea:aecrev:v:94:y:2004:i:5:p:1654-1668.

    Full description at Econpapers || Download paper

  44. Beauty Contests, Bubbles and Iterated Expectations in Asset Markets Capital Adequacy Regulation: In Search of a Rationale. (2003). Shin, Hyun Song ; Morris, Stephen ; Allen, Franklin.
    In: Center for Financial Institutions Working Papers.
    RePEc:wop:pennin:03-06.

    Full description at Econpapers || Download paper

  45. Exchange Monitoring Bands: Theory and Policy. (2003). Zhang, Lei ; Miller, Marcus ; Corrado, Luisa.
    In: CEIS Research Paper.
    RePEc:rtv:ceisrp:8.

    Full description at Econpapers || Download paper

  46. Liquidity Black Holes. (2003). Shin, Hyun Song ; Morris, Stephen.
    In: Cowles Foundation Discussion Papers.
    RePEc:cwl:cwldpp:1434.

    Full description at Econpapers || Download paper

  47. Beauty Contests, Bubbles and Iterated Expectations in Asset Markets. (2003). Shin, Hyun Song ; Morris, Stephen ; Allen, Franklin.
    In: Cowles Foundation Discussion Papers.
    RePEc:cwl:cwldpp:1406.

    Full description at Econpapers || Download paper

  48. Heterogeneity and Uniqueness in Interaction Games. (2003). Shin, Hyun Song ; Morris, Stephen ; Shin. Hyun Song, .
    In: Cowles Foundation Discussion Papers.
    RePEc:cwl:cwldpp:1402.

    Full description at Econpapers || Download paper

  49. Financial Market Runs. (2002). welch, ivo.
    In: NBER Working Papers.
    RePEc:nbr:nberwo:9251.

    Full description at Econpapers || Download paper

  50. Individual Irrationality and Aggregate Outcomes. (). Tyran, Jean-Robert ; Fehr, Ernst.
    In: IEW - Working Papers.
    RePEc:zur:iewwpx:252.

    Full description at Econpapers || Download paper

Coauthors

Authors registered in RePEc who have wrote about the same topic

Report date: 2025-07-19 04:59:12 || Missing content? Let us know

CitEc is a RePEc service, providing citation data for Economics since 2001. Last updated July, 2 2024. Contact: Jose Manuel Barrueco.