lowball

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Lowball

1. Of or related to the low cost of a good, service, or security. A lowball cost is determined by comparing the cost to similar goods, services, and securities. Lowball costs may indicate a low quality in the good, service, or security.

2. Informal; to make an offer to buy something for an exceptionally low price. For example, if the asking price on a house is $200,000, a potential buyer may lowball the seller by offering $125,000.

lowball

Of, relating to, or being an unrealistically low bid. Compare pricey.

Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.

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SS developed a model of lowballing and reporting behavior where auditor heterogeneity with respect to audit cost and quality caused lowball pricing that could impact audit reporting decisions.

Switching costs create incentives for auditors to lowball in order to earn future profits as the incumbent auditor.

(1) Auditors always (a) maintain their objectivity by reporting their observation; (b) set a lowball price of 0 as a new auditor in an initial engagement period; and (c) set a price of 50 as the incumbent in subsequent periods.

The Effect of Accounting Uncertainty and Auditor Reputation on Auditor Objectivity

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