Silent interests and all-pay auctions
โ Scribed by Kai A. Konrad
- Book ID
- 116556792
- Publisher
- Elsevier Science
- Year
- 2006
- Tongue
- English
- Weight
- 182 KB
- Volume
- 24
- Category
- Article
- ISSN
- 0167-7187
No coin nor oath required. For personal study only.
๐ SIMILAR VOLUMES
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
## Abstract In a firstโprice allโpay auction buyers have an incentive to delegate the bidding to agents and to provide these agents with incentives to make bids that differ from the bids the buyers would like to make. Both buyers are better off in this strictly nonโcooperative delegation equilibriu