Large all-pay auctions with IPV bidders
Research output: Contribution to journal › Article
This note analyzes different types of all-pay auctions when the number of bidders becomes large. We compute the distributions of the highest bids for the first-price all pay auction and we show that the expected payment made by the winning bidder converges to half of the total payments. In the second-price all-pay auction (the war of attrition), the highest bid amounts to about 35.5% of the total revenues. We also compute the payments for all-pay auctions with multiple prizes.
|Number of pages||12|
|Journal||Journal of Economic Theory|
|Publication status||Published - 1 May 2017|
|MoE publication type||A1 Journal article-refereed|
- All-pay auction, Large auctions