1. 593 private companies were reported to be bought and sold in the United States, many through an auction process. The total value of these transactions was in excess of $315 billion;See Robert;ECON. INQUIRY,1989
2. This study concludes that the Swedish auction bankruptcy system promotes firm survival rates, bankruptcy costs, and debt recovery rates that compare favorably with the reorganization system in the;See Karin;Bankruptcy Auctions: Costs, Debt Recovery, and Firm Survival,2000