Ann E. Sherman
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Ann E. Sherman

Why Do IPO Auctions Fail?

Free rid­ers’ and the winner’s curse’ can lead to less-than-desir­able out­comes. But some auc­tion fea­tures can lend trans­paren­cy to the tra­di­tion­al IPO approach.

Researchers: Ravi Jagannathan and Ann E. Sherman