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All-pay auctions—an experimental study

✍ Scribed by Uri Gneezy; Rann Smorodinsky


Book ID
116635068
Publisher
Elsevier Science
Year
2006
Tongue
English
Weight
503 KB
Volume
61
Category
Article
ISSN
0167-2681

No coin nor oath required. For personal study only.


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We consider an all-pay auction in a standard symmetric independent private value setting with a risk averse seller. We prove that if the distribution for the bidders' valuations attaches probability almost one to a single value, then the seller prefers that only two bidders participate in the auctio