All-Pay Auctions with Handicaps
AbstractAn all-pay auction in which the winner is determined according to the sum of the bid and the handicap, the latter of which is endowed to the players, is analyzed. The bidding strategy in an equilibrium is explicitly derived as a "piecewise affine transformation" of the equilibrium strategy in the all-pay auction without handicaps. Allocation rule implemented in the equilibrium and revenue comparison are also discussed.
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Bibliographic InfoPaper provided by Institute of Social and Economic Research, Osaka University in its series ISER Discussion Paper with number 0781.
Date of creation: Mar 2010
Date of revision: Jun 2010
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-06-26 (All new papers)
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