Logo
Munich Personal RePEc Archive

Auction Design with Loss Averse Bidders: The Optimality of All Pay Mechanisms

Eisenhuth, Roland (2010): Auction Design with Loss Averse Bidders: The Optimality of All Pay Mechanisms.

Warning
There is a more recent version of this item available.
[thumbnail of MPRA_paper_23357.pdf]
Preview
PDF
MPRA_paper_23357.pdf

Download (769kB) | Preview

Abstract

Auctioneers who have an indivisible object for sale and believe that bidders are risk neutral can find the recipe for an optimal auction in Myerson (1981); auctioneers who believe that bidders are loss averse can find it here: An optimal auction is an all pay auction with minimum bid, and any optimal mechanism is all pay.

Available Versions of this Item

Atom RSS 1.0 RSS 2.0

Contact us: mpra@ub.uni-muenchen.de

This repository has been built using EPrints software.

MPRA is a RePEc service hosted by Logo of the University Library LMU Munich.