منابع مشابه
Sequential all-pay auctions with head starts
We study a sequential all-pay auction where heterogeneous contestants are privately informed about a parameter (ability) that a¤ects their cost of e¤ort. In the case of two contestants, contestant 1 (the rst mover) makes an e¤ort in the rst period, while contestant 2 (the second mover) observes the e¤ort of contestant 1 and then makes an e¤ort in the second period. Contestant 2 wins the conte...
متن کاملAll-Pay-All Auctions
We consider a class of auctions in which bidders receive (asymmetric) shares of the amount of money raised. Examples include corporate takeovers when potential acquirers have “toeholds” and auctions used to raise money for a public good. We show that the optimal selling mechanism in these cases is a simple “all-pay-all” auction in which all bidders pay a weighted sum of all bids. When bidders r...
متن کاملSequential All-Pay Auctions with Head Starts and Noisy Outputs∗
We study a sequential (Stackelberg) all-pay auction with two contestants who are privately informed about a parameter (ability) that affects their cost of effort. Contestant 1 (the first mover) exerts an effort in the first period, while contestant 2 (the second mover) observes the effort of contestant 1 and then exerts an effort in the second period. Contestant 2 wins the contest if his effort...
متن کاملDynamic All-pay Auctions¤
In wars of attrition, players choose how long they bid, but not how much. In all-pay auctions, players choose how much to bid, but not for how long. We study an all-pay auction where two players can spread their bids over two periods. The ...rst period bid is used to in‡uence payo¤s and beliefs of the opponent. The analysis reveals who is blu¢ng, creating an impression of strength that lures th...
متن کاملAll-Pay Auctions with Ties
We study the two-player, complete information all-pay auction in which a tie ensues if neither player outbids the other by more than a given amount. In the event of a tie, each player receives an identical fraction of the winning prize. Thus players engage in two margins of competition: losing versus tying, and tying versus winning. Two pertinent parameters are the margin required for victory a...
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ژورنال
عنوان ژورنال: European Economic Review
سال: 2014
ISSN: 0014-2921
DOI: 10.1016/j.euroecorev.2014.06.006