Arakelov theory of noncommutative arithmetic curves (2009)
The purpose of this article is to initiate Arakelov theory in a noncommutative setting. More precisely, we are concerned with Arakelov theory of noncommutative arithmetic curves. Our first main...
Arakelov theory of noncommutative arithmetic surfaces (2008)
The purpose of this paper is to initiate Arakelov theory in a noncommutative setting. More precisely, we are concerned with noncommutative arithmetic surfaces. We introduce a version of arithmetic...
Mergers under Asymmetric Information – Is there a Lemons Problem?
Thomas Borek, Stefan Buehler, Armin Schmutzler
We analyze a Bayesian merger game under two-sided asymmetric information about firm types. We show that the standard prediction of the lemons market model–if any, only low-type firms are...
Weddings with Uncertain Prospects – Mergers under Asymmetric Information
Thomas Borek, Stefan Buehler, Armin Schmutzler
We provide a framework for analyzing bilateral mergers when there is two-sided asymmetric information about firms’ types. We show that there is always a "no-merger" equilibrium where firms do not...
Weddings with Uncertain Prospects - Mergers under Asymmetric Information
Borek, Thomas, Bühler, Stefan, Schmutzler, Armin
We provide a framework for analysing bilateral mergers when there is two-sided asymmetric information about firms’ types. We introduce the concepts of essentially monotone decreasing (EMD) and...
Analyzing Mergers under Asymmetric Information: A Simple Reduced-Form Approach
Thomas Borek, Stefan Bühler, Armin Schmutzler
This paper provides a simple reduced-form framework for analyzing merger decisions in the presence of asymmetric information about firm types, building on Shapiro's (1986) oligopoly model with...