ðə lˈæɾɚ ɹɪzˈʌlt hˈæzbiːn ɛkstˈɛndᵻd tə sˈɛɾɪŋz ɪnwˌɪtʃ ðə pˈɑːɹɾiz kæn mˌeɪk ʌnəbzˈɜːvəbəl ˈɛks ˈæntiː ɪnvˈɛstmənts ɪn ˈɔːɹdɚ tʊ ɪŋkɹˈiːs ðɛɹ ˈoʊn vˌæljuːˈeɪʃənz.
The latter result has been extended to settings in which the parties can make unobservable ex ante investments in order to increase their own valuations.