The Presence and Effect of the Winner's Curse in the Market for Audit Services: An Experimental Market Examination

We argue that the market for audit services resembles a common value procurement auction in that there is common uncertainty regarding audit cost and auditors generate a private estimate of cost prior to quoting a price. We examine two audit markets that take this form of market institution. First,...

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Veröffentlicht in:	Behavioral research in accounting 2019-09, Vol.31 (2), p.73-91
Hauptverfasser:	Hobson, Jessen L., Marley, Robert, Mellon, Mark J., Stevens, Douglas E.
Format:	Artikel
Sprache:	eng
Schlagworte:	Auditing Auditing standards Auditors Audits Fees & charges
Online-Zugang:	Volltext
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