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Details for article 1 of 9 found articles
| Title: |
A reconsideration of measurements of money left on the table - an analysis of OCS auctions over the period 1954-77 |
| Author: |
Saidi, Reza Marsden, James R. |
| Appeared in: |
Applied financial economics |
| Paging: | Volume 3 (1993) nr. 3 pages 231-238 |
| Year: |
1993-09 |
| Contents: |
The analysis focusses on whether continuing information on market performance resulted in observable adaptations in behaviour by market participants in Outer Continental Shelf oil lease auctions. We suggest that one common measure of overbidding, money left on the table (MLOT), suffers from at least three easily identifiable deficiencies: failure to take account of plot size, failure to consider significant differences in plot value, and failure to take inflation into account. We set forth alternative measures and use deflated data in our empirical analysis. While we find a narrowing over time, relative overbidding remains large even in late periods |
| Publisher: |
Routledge |
| Source file: |
Elektronische Wetenschappelijke Tijdschriften |
Details for article 1 of 9 found articles
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