Kotowski, Maciej and Li, Fei (2011): All-Pay Auctions with Budget Constraints.
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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
|Item Type:||MPRA Paper|
|Original Title:||All-Pay Auctions with Budget Constraints|
|English Title:||All-Pay Auctions with Budget Constraints|
|Keywords:||All-Pay Auction, Budget Constraints, Lobbying, War of Attrition, Common Values, Private Values|
|Subjects:||D - Microeconomics > D4 - Market Structure and Pricing > D44 - Auctions|
|Depositing User:||Fei Li|
|Date Deposited:||24. Apr 2011 13:01|
|Last Modified:||12. Feb 2013 22:06|
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