All-pay auctions with certain and uncertain prizes

B-Tier
Journal: Games and Economic Behavior
Year: 2014
Volume: 88
Issue: C
Pages: 130-134

Score contribution per author:

1.005 = (α=2.01 / 2 authors) × 1.0x B-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

We study all-pay auctions with multiple prizes. The players have the same value for all the certain prizes except for one uncertain prize for which each player has a private value. We characterize the equilibrium strategy and show that, independent of the ranking of the uncertain prize, if the uncertain prize is not the lowest one, a player's effort as well as his expected payoff increase in his value for the uncertain prize. Otherwise, if this prize is the lowest one, we obtain that a player's effort may decrease in his value for the uncertain prize but his expected utility increases.

Technical Details

RePEc Handle
repec:eee:gamebe:v:88:y:2014:i:c:p:130-134
Journal Field
Theory
Author Count
2
Added to Database
2026-01-26