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I'm not sure what this solves. If I know that the stock will have less competitive bidding 4 days from now, I'm waiting.

I'm a firm believer that releasing all the shares and allowing the market to decide what they'll pay for the stock, based on their own valuation method, is the most efficient method.

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yes, this is the most efficient method for getting market value for something (its almost tautologous); however, thats not the problem identified. the problem is determining a fair price for the ipo so that the company being listed brings in as much cash as they should. releasing all the shares at once determines a fair price quickly, but that doesnt help the company bring in more cash

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