Published July 2014
| Version Submitted
Working Paper
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The Hubris Hypothesis: Empirical Evidence
Abstract
The Hubris Hypothesis is grounded on a failure to adequately account for the winner's curse, which leads to overbidding. Surprisingly few papers have attempted to develop a direct empirical test of the presence of overbidding in M&A contests. We develop two such tests in this paper. Our results strongly support the existence of overbidding.
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Submitted - sswp1390.pdf
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sswp1390.pdf
Additional details
Identifiers
- Eprint ID
- 79433
- Resolver ID
- CaltechAUTHORS:20170726-142038067
Dates
- Created
-
2017-08-07Created from EPrint's datestamp field
- Updated
-
2019-10-03Created from EPrint's last_modified field
Caltech Custom Metadata
- Caltech groups
- Social Science Working Papers
- Series Name
- Social Science Working Paper
- Series Volume or Issue Number
- 1390