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Caps in asymmetric all-pay auctions with incomplete information

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Author Info
Nicolas Sahuguet () (HEC Montréal)

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Abstract

We study asymmetric all-pay auctions where two privately informed agents bid for a prize. We show that capping the bids is profitable for a designer who wants to maximize the sum of bids (revenue). This finding confims the results of Che and Gale (1998) in the context of incomplete information and completes the analysis of Gavious, Moldovanu and Sela (2002) by analyzing the case of ex-ante asymmetric players.

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File URL: http://economicsbulletin.vanderbilt.edu/2006/volume3/EB-06C70004A.pdf
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Publisher Info
Article provided by Economics Bulletin in its journal Economics Bulletin.

Volume (Year): 3 (2006)
Issue (Month): 9 ()
Pages: 1-8
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:ebl:ecbull:v:3:y:2006:i:9:p:1-8

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Postal: Economics Bulletin, Department of Economics, 414 Calhoun Hall, Vanderbilt University, Nashville TN 37235, USA
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Related research
Keywords: All-pay auctions; asymmetry; caps;

Find related papers by JEL classification:
C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Arieh Gavious & Benny Moldovanu & Aner Sela, 2002. "Bid Costs and Endogenous Bid Caps," RAND Journal of Economics, The RAND Corporation, vol. 33(4), pages 709-722, Winter.
    Other versions:
  2. PARREIRAS, SŽrgio O. & RUBINCHIK-PESSACH, Anna, 2006. "Contests with heterogeneous agents," CORE Discussion Papers 2006004, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE). [Downloadable!]
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. René Kirkegaard, 2007. "Comparative Statics and Welfare in Heterogeneous Contests: Bribes, Caps, and Performance Thresholds," Working Papers 0702, Brock University, Department of Economics. [Downloadable!]
  2. Rene Kirkegaard, 2008. "Favoritism in Contests: Head Starts and Handicaps," Working Papers 0805, Brock University, Department of Economics, revised Nov 2008. [Downloadable!]
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This page was last updated on 2009-11-16.

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