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common value

An item which has equal value to all parties.

The following items are tagged common value:

The Winner’s Curse in Negotiations: How to Avoid It

Posted by & filed under Business Negotiations.

These business negotiations – an auction and a negotiated acquisition – highlight both the promise and risks of high-priced purchases and the dangers of the winner’s curse in negotiation. Negotiators fall victim to the winner’s curse in negotiations when they over-compete (and overbid) for items in the pursuit of a “victory” at the bargaining table. … Read More 

A Tale of Two Matching Rights

Posted by & filed under Business Negotiations.

In March 2005, German powerhouse SAP agreed to buy Retek, a small company that offered information management software, for $8.50 a share. The deal included a matching right in which Retek committed to negotiate exclusively with SAP for five days if it received a “superior offer.” The matching right didn’t scare away Oracle, SAP’s archrival, … Read More 

From negotiation to auction: The rise of real-time bidding

Posted by & filed under Dealmaking.

Because of a technological innovation called real-time bidding, or RTB, more and more online-advertising transactions are being completed through auctions rather than negotiations. The transformation could foreshadow similar changes in other realms, as negotiations gain the potential to become more automated. How RTB works In the dark ages of the Internet, websites would negotiate individually with potential … Read More 

Don’t Be Cursed

Posted by & filed under Business Negotiations, Daily.

Adapted from “How to Win an Auction—and Avoid the Sinking Feeling that You Overbid,” first published in the Negotiation newsletter. Imagine that at the beginning of class, a professor produces a jar full of coins and announces that he is auctioning it off. Students can write down a bid, he explains, and the highest bidder will … Read More