Munich Personal RePEc Archive

All-Pay Auctions with Budget Constraints

Kotowski, Maciej and Li, Fei (2011): All-Pay Auctions with Budget Constraints.

WarningThere is a more recent version of this item available.
[img]
Preview
PDF
MPRA_paper_30468.pdf

Download (193Kb) | Preview

Abstract

Consider an all-pay auction with interdependent, affiliated valuations and private budget constraints. We characterize a symmetric equilibrium for the case of two players. In contrast with the second-price auction, making budgets more severe can depress the bids of unconstrained bidders

Available Versions of this Item

UB_LMU-Logo
MPRA is a RePEc service hosted by
the Munich University Library in Germany.