کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
965478 930811 2012 9 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Wars of attrition and all-pay auctions with stochastic competition
موضوعات مرتبط
مهندسی و علوم پایه ریاضیات ریاضیات کاربردی
پیش نمایش صفحه اول مقاله
Wars of attrition and all-pay auctions with stochastic competition
چکیده انگلیسی
We extend the war of attrition and all-pay auction analysis of Krishna and Morgan (1997) to a stochastic competition setting. We determine the existence of equilibrium bidding strategies and discuss the potential shape of these strategies. Results for the war of attrition contrast with the characterization of the bidding equilibrium strategies in the first-price all-pay auction as well as the winner-pay auctions. Furthermore we investigate the expected revenue comparisons among the war of attrition, the all-pay auction and the winner-pay auctions and discuss the linkage principle as well. Our findings are applicable to future works on contests and charity auctions.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Mathematical Economics - Volume 48, Issue 2, March 2012, Pages 83-91
نویسندگان
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