{"id":"W4402254436","doi":"10.1016/j.jmateco.2026.103246","title":"Equity Auctions with Bidder Moral Hazard","year":2024,"lang":"en","type":"preprint","venue":"Journal of Mathematical Economics","topic":"Corporate Finance and Governance","field":"Business, Management and Accounting","cited_by":0,"is_retracted":false,"has_abstract":false,"ca_institutions":"Western University","funders":"National Natural Science Foundation of China","keywords":"Moral hazard; Common value auction; Equity (law); Business; Economics; Microeconomics; Political science; Incentive; Law","routes":{"ca_aff":true,"ca_fund":false,"ca_venue":false,"about_ca":false,"invisible_to_affiliation_only":false},"retraction":null,"screen":null,"direct_labels":[],"prediction":{"model_version":"metacan-v3-hybrid-931329e0061c","candidate_categories":[],"consensus_categories":[],"category_scores_codex":[0.008438243,0.001495982,0.004773453,0.001715148,0.001514769,0.008344608,0.003338198,0.006416509,0.01826908],"category_scores_gemma":[0.04711473,0.002012205,0.001758329,0.002166094,0.00432414,0.01295422,0.003601689,0.005099049,0.001742875],"about_ca_system_candidate":false,"about_ca_system_consensus":false,"about_ca_system_score_codex":0.002192857,"about_ca_system_score_gemma":0.002118759,"about_ca_topic_candidate":false,"about_ca_topic_consensus":false,"about_ca_topic_score_codex":0.001581329,"about_ca_topic_score_gemma":0.001029375,"domain_scores_codex":[0.9954128,0.00252004,0.0002201976,0.0004655003,0.0006735334,0.0007079117],"domain_scores_gemma":[0.9659333,0.02606601,0.002610862,0.002435479,0.001521654,0.001432691],"domain_codex":null,"domain_gemma":null,"domain_candidate":null,"domain_consensus":null,"study_design_codex":"theoretical_or_conceptual","study_design_gemma":"theoretical_or_conceptual","study_design_scores_codex":[0.0002813637,0.0001601682,0.0006748418,0.000114724,0.00006013319,0.0005261009,0.0001346615,0.03095883,0.000602774,0.9564095,0.004131556,0.005945388],"study_design_scores_gemma":[0.0001672606,0.00003965244,0.0002113137,0.00001610612,0.00003145255,0.0002695363,0.0000415106,0.1562247,0.000124492,0.8421245,0.0007198975,0.00002954894],"study_design_candidate":"theoretical_or_conceptual","study_design_consensus":"theoretical_or_conceptual","genre_codex":"methods","genre_gemma":"empirical","genre_scores_codex":[0.2413102,0.002128554,0.6698321,0.007948673,0.000881849,0.0003051141,0.0007496016,0.0007320751,0.07611182],"genre_scores_gemma":[0.9100471,0.0007157275,0.02341024,0.0006485401,0.001117554,0.0001610391,0.0001859792,0.0001783296,0.06353553],"genre_candidate":"empirical","genre_consensus":null,"teacher_disagreement_score":0.01826908,"threshold_uncertainty_score":0.06111622,"prediction_status":"machine_predicted_unvalidated"},"machine_scores":{"provisional":true,"baseline":true,"maturity_gate_passed":false,"score_opus":0.05095001067397433,"score_gpt":0.2561915318031489,"score_spread":0.2052415211291746,"validation_status":"score_only:v0-immature-baseline","note":"Baseline scores from an immature model (maturity gate not passed). Scores rank; they never assert a category."}}