Large all-pay auctions with IPV bidders

Pauli Murto; Juuso Välimäki

doi:10.1016/j.jet.2017.03.008

Large all-pay auctions with IPV bidders

Pauli Murto^*, Juuso Välimäki

^*Tämän työn vastaava kirjoittaja

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Tutkimustuotos: Lehtiartikkeli › Article › Scientific › vertaisarvioitu

203 Lataukset (Pure)

Abstrakti

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.

Alkuperäiskieli	Englanti
Sivut	629-640
Sivumäärä	12
Julkaisu	Journal of Economic Theory
Vuosikerta	169
DOI - pysyväislinkit	https://doi.org/10.1016/j.jet.2017.03.008
Tila	Julkaistu - 1 toukok. 2017
OKM-julkaisutyyppi	A1 Alkuperäisartikkeli tieteellisessä aikakauslehdessä

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10.1016/j.jet.2017.03.008

LargeAPAAccepted author manuscript, 232 KBLisenssi: CC BY-NC-ND

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Large all-pay auctions with IPV bidders

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