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Less fighting than expected — experiments with wars of attrition and all-pay auctions

  • Oliver Kirchkamp,

The paper compares with the help of experiments dynamic and static wars of attrition (i.e. second price all-pay auctions) and first-price all-pay auctions. While most experimental studies find overbidding in first-price all-pay auctions, we find underbidding in a similar institution, the war of attrition, in particular if the bidding process is dynamic. We study bids and revenue in different experimental frames and matching procedures and draw a link to the literature on stepwise linear bidding functions

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Paper provided by Centre for Research into Industry, Enterprise, Finance and the Firm in its series CRIEFF Discussion Papers with number 0607.

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Date of creation: Jun 2006
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Handle: RePEc:san:crieff:0607
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  9. Bliss, Christopher & Nalebuff, Barry, 1984. "Dragon-slaying and ballroom dancing: The private supply of a public good," Journal of Public Economics, Elsevier, vol. 25(1-2), pages 1-12, November.
  10. Vijay Krishna & John Morgan, 1994. "An Analysis of the War of Attrition and the All-Pay Auction," Game Theory and Information 9409002, EconWPA.
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