A Class of All-pay Auctions with Affiliated Information

Gian Luigi Albano
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Gian Luigi Albano: University College London

No 2001012, Discussion Papers (REL - Recherches Economiques de Louvain) from Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES)

Abstract: We study an auction mechanism combining the war of attrition and the all-pay auction under the assumption that buyers' signals are affiliated. We provide a sufficient condition which guarantees the existence of a symmetric, increasing equilibrium bidding strategy, but rules out full extraction of buyers' surplus by the seller. We develop revenue comparison between the combined mechanism, the war of attrition and the all-pay auction.

Keywords: All-pay auctions; War of Attrition; Affilliated values (search for similar items in EconPapers)
JEL-codes: D44 D82 (search for similar items in EconPapers)
Pages: 8
Date: 2001-03-01
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:ctl:louvre:2001012

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