An Analysis of the War of Attrition and the All-Pay Auction
AbstractWe study the war of attrition and the all-pay auction when players' signals are affiliated and symmetrically distributed. We (a) find sufficient conditions for the existence of symmetric monotonic equilibrium bidding strategies; and (b) examine the performance of these auction forms in terms of the expected revenue accruing to the seller. Under our conditions the war of attrition raises greater expected revenue than all other known sealed bid auction forms.
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Bibliographic InfoPaper provided by EconWPA in its series Game Theory and Information with number 9409002.
Date of creation: 26 Sep 1994
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- Krishna, Vijay & Morgan, John, 1997. "An Analysis of the War of Attrition and the All-Pay Auction," Journal of Economic Theory, Elsevier, vol. 72(2), pages 343-362, February.
- C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
- D8 - Microeconomics - - Information, Knowledge, and Uncertainty
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