All-pay auction, Game Theory

 

A type of auction in which the highest bidder is rewarded the object, but all bidders pay the auctioneer their bids. This differs from traditional first price auctions in which only the winner pays the auctioneer his or her bid. All-pay auctions are often used to model political races or patent races among firms. A probabilistic edition of the all-pay auction is the Chinese auction.

 

Posted Date: 7/21/2012 5:22:07 AM | Location : United States







Related Discussions:- All-pay auction, Assignment Help, Ask Question on All-pay auction, Get Answer, Expert's Help, All-pay auction Discussions

Write discussion on All-pay auction
Your posts are moderated
Related Questions
Take a news story, old or recent, and analyze it from a game theoretic perspective. Provide a hard copy of the source of your news story and consult relevant game theoretic literat


A mixed strategy during which the player assigns strictly positive chance to each pure strategy.Morgenstern, Oskar,Coauthor of Theory of Games and Economic Behavior with John von N

A proxy bidder represents the interests of a bidder not physically gift at the auction. Typically, the bidder can inform his proxy of the most quantity he's willing to pay, and als

what will be the best strategy for a bidder in an auction comprised of four bidders?

A sequential game is one among imperfect data if a player doesn't grasp precisely what actions different players took up to that time. Technically, there exists a minimum of one da

Treating probability as a logic, Thomas Bayes defined the following: Pr(X|Y)=Pr(Y|X)Pr(X)/Pr(Y) For example, probability that the weather was bad given that our friends playe

The most basic version of a LIV allows the executive office holder (Governor or President) to accept part of a bill passed by the legislature (so that part becomes law) and to veto

A type of sequential second worth auction during which an auctioneer directs participants to beat the present, standing bid. New bids should increase the present bid by a predefine

Scenario The hawk-dove game is additionally commonly called the sport of chicken. 2 hooligans with one thing to prove drive at one another on a slender road. The primary to swer