In particular, the trial court credited an expert's view that a "winner's curse
" dissuades competition when a buyout group includes management (who are expected to have the best insight into a company's prospects), and that bidders may be unwilling to pursue an acquisition aggressively if key officers may not stay on.
"In order to clarify the issue of international content for the DTH licencees, rather than just Pakistani content," the report says, "the authority should accordingly reformulate and re-notify the DTH regulations so as to strike a balance between 'common value auction' and 'private value auction', vide the 'linkage principle', in order to be rid of the "winner's curse
" and simultaneously incorporate the "prestige factor"." The report also urges the Pemra to reformulate and re-issue the terms and conditions of the licence and also reformulate and publicly announce a tentative timeline for the proposed DTH licencing regime.
There is also the phenomenon of the 'winner's curse
' - a participant bidding so aggressively that the asset is no longer worth the amount paid for it.
This adverse selection is what leads to the well-known Winner's Curse
phenomenon and if not taken into account during bid formulation it can lead to substantial losses for the sellers.
With winner Ben reportedly dropped by Syco, Fleur has missed out on the winner's curse
Seller's reluctance is just as dangerous for sellers as the winner's curse
is for buyers.
The Winner's Crime is the second volume in The Winner's Trilogy, which started with The Winner's Curse
This "winner's curse
," as economists call the condition, is borne out by FA Insight and FSI data showing that overall recruiting-related expenses for the average BD rose 14% in 2011 and 24% in 2012, matched by costs per recruit.
The result is the "winner's curse
," where neither the economic nor noneconomic goals of family owners are fully achieved.
Whether there's a winner's curse
or not, the last two Open winners - Els and Darren Clarke - went straight from the Scottish Open to the Claret Jug.
OLLY MURS is backing X Factor winner JAMES ARTHUR's desire to release his debut album as soon as possible to avoid succumbing to winner's curse
. He said: "If you look at LITTLE MIX this year and when LEONA LEWIS won - they released really early and had huge hits.
I would also highlight a phenomenon known as the "winner's curse
" whereby auctions can lead to the winner getting carried away.