Caps on Bidding in All-Pay Auctions: Comments on the Experiments of A. Rapoport and W. Amaldoss

Emmanuel Dechenaux, Dan Kovenock and Volodymyr Lugovskyy

Purdue University Economics Working Papers from Purdue University, Department of Economics

Abstract: In an article published in this journal, Rapoport and Amaldoss (2000, Journal of Economic Behavior and Organization, 42, 483-521) analyze symmetric and asymmetric investment games similar to two-player all-pay auctions with bid caps. In this note, we correct an error in their characterization of the set of Nash Equilibria of their symmetric investment game. In particular, we find Equilibria that Rapoport and Amaldoss (2000) fail to identify. Taking these Equilibria into account has important implications for the analysis of data from Rapoport and Amaldoss s experiments.

Keywords: All-Pay Auction; Mixed strategies; Discrete strategy space; Bid caps; Experiments (search for similar items in EconPapers)
JEL-codes: C72 C92 D44 (search for similar items in EconPapers)
Pages: 15 pages
Date: 2003
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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Journal Article: Caps on bidding in all-pay auctions: Comments on the experiments of A. Rapoport and W. Amaldoss (2006)
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