| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 5078145 | International Journal of Industrial Organization | 2013 | 11 Pages |
Abstract
⺠This paper explores the competitive effects of cross-shareholdings in all-pay-auctions. ⺠A complete account of bidding behaviors in all-pay-auctions with cross-shareholdings is provided. ⺠Cross-shareholdings may intensify competition and improve effort supply. ⺠The conditions under which cross-shareholdings lead to higher (lower) effort are identified. ⺠The pro-competitive effect of cross-shareholding comes at a loss of efficiency.
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Economics and Econometrics
Authors
Qiang Fu, Jingfeng Lu,