dc.contributor.author | Kotowski, Maciej Henryk | |
dc.contributor.author | Li, Fei | |
dc.date.accessioned | 2014-02-19T14:41:49Z | |
dc.date.issued | 2014 | |
dc.identifier.citation | Kotowski, Maciej H., and Fei Li. 2014. “On the continuous equilibria of affiliated-value, all-pay auctions with private budget constraints.” Games and Economic Behavior (February). doi:10.1016/j.geb.2014.01.014. http://dx.doi.org/10.1016/j.geb.2014.01.014. | en_US |
dc.identifier.issn | 0899-8256 | en_US |
dc.identifier.uri | http://nrs.harvard.edu/urn-3:HUL.InstRepos:11718166 | |
dc.description.abstract | We consider all-pay auctions in the presence of interdependent, affiliated valuations and private budget constraints. For the sealed-bid, all-pay auction we characterize a symmetric equilibrium in continuous strategies for the case of N bidders. Budget constraints encourage more aggressive bidding among participants with large endowments and intermediate valuations. We extend our results to the war of attrition where we show that budget constraints lead to a uniform amplification of equilibrium bids among bidders with sufficient endowments. An example shows that with both interdependent valuations and private budget constraints, a revenue ranking between the two auction formats is generally not possible. Equilibria with discontinuous bidding strategies are discussed. | en_US |
dc.language.iso | en_US | en_US |
dc.publisher | Elsevier BV | en_US |
dc.relation.isversionof | doi:10.1016/j.geb.2014.01.014 | en_US |
dash.license | OAP | |
dc.subject | All-pay auction | en_US |
dc.subject | War of attrition | en_US |
dc.subject | Budget constraints | en_US |
dc.subject | Common values | en_US |
dc.subject | Private values | en_US |
dc.subject | Affiliation | en_US |
dc.subject | Contests | en_US |
dc.title | On the continuous equilibria of affiliated-value, all-pay auctions with private budget constraints | en_US |
dc.type | Journal Article | en_US |
dc.description.version | Accepted Manuscript | en_US |
dc.relation.journal | Games and Economic Behavior | en_US |
dash.depositing.author | Kotowski, Maciej Henryk | |
dc.date.available | 2014-02-19T14:41:49Z | |
dc.identifier.doi | 10.1016/j.geb.2014.01.014 | * |
dash.contributor.affiliated | Kotowski, Maciej | |