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
Ordinal payoffs are numbers representing the outcomes of a game where the worth of the numbers isn't vital, however solely the ordering of numbers. for instance, when solving for a

why might an airline offer the following deal: you pay 400 for a round trip ticket from here to orlando, but you only pay 300 per ticket if you stayy in orlando includes a saturday

What do you study about the saving, investment spending and financial system? Savings, Investment Spending, and the Financial System: 1. The correlation between savings and

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

Scenario Two hooligans with one thing to prove drive at one another on a slender road. the primary to swerve loses faces among his peers. If neither swerves, however, a terminal

The notion that those that don't contribute to some project might nevertheless get pleasure from it (free riders), evidenced in games like the tragedy of the commons and public pro

1. This question and the next is based on the following description. Consider the coalitional game (referred to as Game 1) given by: N = {1,2,3,4}; v(N) = 3, v{i} = 0, i = 1,...,4,

A bid that indicates totally different costs for various quantitites of the item offered for sale. A series of price-quantity mixtures is tendered to the auctioneer.

Cardinal payoffs are numbers representing the outcomes of a game where the numbers represent some continuum of values, such as money, market share or quantity. Cardinal payoffs per

A multiunit auction mechanism for assigning heterogeneous (different) objects. The highest bidder in the first round selects one item among those offered for sale. Then, a second r