It has also been argued that prospect theory can explain several empirical regularities observed in the context of auctions ( such as secret reserve prices ) which are difficult to reconcile with standard economic theory.
12.
The new complaint accuses the company of an additional scheme, asserting that WorldCom retained secret reserves that could be used almost as a cookie jar _ tapped whenever the company needed to offset expenses, and thus improperly increase profits.
13.
Plender was one of the most important and reliable accountants in Britain, and under cross-examination stated that it was routine for firms " of the very highest repute " to use secret reserves in calculating profit without declaring it.
14.
It will also disclose before a sale that an auctioneer may conduct what is known as " chandelier bidding, " calling out fake bids to move a price up to the secret reserve price, agreed upon by the auction house and seller.
15.
The whistle-blower suit unsealed Friday contends that KPMG Peat Marwick played a prime role in that scheme, by assisting certain Florida hospitals owned by Columbia in setting up secret reserves, which were maintained in the event that government auditors discovered the deception and demanded money back.
16.
Arnold Schwarzenegger in " True Lies, " even Tom Hanks in " Forrest Gump " ) releases his secret reserves of viciousness or ambition . ( Exempt Hanks from that thought if you really believe it's possible to drift like a feather into wealth and fame .)
17.
In response to criticisms regarding chandelier bidding and unidentified third-party guaranteed bids, Christie's International chairman Edward Dolman countered that, without a secret reserve, illegal cartels of bidders would know in advance information that could facilitate their manipulation of the market and corruption of final valuation by selling price at auction.
18.
The whistle-blower suit, filed by a former Columbia employee, contends that KPMG, then known as KPMG Peat Marwick, played a prime role in that effort by assisting some Florida hospitals owned by Columbia in setting up secret reserves, which were maintained in case government auditors discovered the deception and demanded money back.
19.
Last week Sony, which combines Japan's largest electronics manufacturing business with a cluster of entertainment properties, found itself accused in the media of the kinds of accounting irregularities that have brought down other prominent companies _ treating some ordinary expenses as capital costs and " managing " earnings using a secret reserve fund.
20.
:Yes, but if they bid a gazillion dollars they may end up having to pay 0.9 gazillion dollars ( if that happens to be the secret reserve price ) and that might be just a little too much to pay for the used thingamajig he is bidding on . talk ) 15 : 23, 13 February 2011 ( UTC)
