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Tullock contests may be revenue superior to auctions in a symmetric setting

Listed author(s):
  • Matros, Alexander
  • Possajennikov, Alex

We consider a symmetric two-player common-value setting where each player gets a private signal about the object value. We show that for some parameter values the equilibrium revenue can be higher in a Tullock contest than in the standard auctions.

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File URL: http://www.sciencedirect.com/science/article/pii/S0165176516300672
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Article provided by Elsevier in its journal Economics Letters.

Volume (Year): 142 (2016)
Issue (Month): C ()
Pages: 74-77

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Handle: RePEc:eee:ecolet:v:142:y:2016:i:c:p:74-77
DOI: 10.1016/j.econlet.2016.03.003
Contact details of provider: Web page: http://www.elsevier.com/locate/ecolet

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  1. David Malueg & Ram Orzach, 2012. "Equilibrium and revenue in a family of common-value first-price auctions with differential information," International Journal of Game Theory, Springer;Game Theory Society, vol. 41(2), pages 219-254, May.
  2. Fang, Hanming, 2002. "Lottery versus All-Pay Auction Models of Lobbying," Public Choice, Springer, vol. 112(3-4), pages 351-371, September.
  3. Milgrom, Paul R & Weber, Robert J, 1982. "A Theory of Auctions and Competitive Bidding," Econometrica, Econometric Society, vol. 50(5), pages 1089-1122, September.
  4. Siegel, Ron, 2014. "Asymmetric all-pay auctions with interdependent valuations," Journal of Economic Theory, Elsevier, vol. 153(C), pages 684-702.
  5. Franke, Jörg & Kanzow, Christian & Leininger, Wolfgang & Schwartz, Alexandra, 2014. "Lottery versus all-pay auction contests: A revenue dominance theorem," Games and Economic Behavior, Elsevier, vol. 83(C), pages 116-126.
  6. Karl Wärneryd, 2012. "Multi-player contests with asymmetric information," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 51(2), pages 277-287, October.
  7. Malueg, David A. & Orzach, Ram, 2009. "Revenue comparison in common-value auctions: Two examples," Economics Letters, Elsevier, vol. 105(2), pages 177-180, November.
  8. Wang, Ruqu, 1991. "Common-value auctions with discrete private information," Journal of Economic Theory, Elsevier, vol. 54(2), pages 429-447, August.
  9. Klemperer, Paul, 1998. "Auctions with almost common values: The 'Wallet Game' and its applications," European Economic Review, Elsevier, vol. 42(3-5), pages 757-769, May.
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