- A-Z
- Jena Economic Resea...
- Volume 2
- Less fighting than ...
Less fighting than expected – experiments with wars of attrition and all-pay auctions
- Autor(in)
-
Friedrich-Schiller-Universität Jena. Wirtschaftswissenschaftliche Fakultät
- Erschienen
- 18. März 2008
- Nummer des Discussion-Papers
-
2008-023
- Schlagwort(e)
-
all-pay auction
dynamic bidding
experiment
stabilisation
volunteer’s dilemma
War of attrition
- Zusammenfsg.
-
We use experiments to compare dynamic and static wars of attrition (i.e. second-price all-pay auctions) and first-price all-pay auctions. Many other studies find overbidding in first-price all-pay auctions. We can replicate this property. In wars of attrition, however, we find systematic underbidding. We study bids and revenue in different experimental frames and matching procedures and draw a link to the literature on stepwise linear bidding functions.
- article pub. typess JER
- Research article
- article languages JER
- Englisch
- article research fields JER
- experimental economics
- JEL-Classification for JER
- C72 - Noncooperative Games ; C92 - Laboratory, Group Behavior ; D44 - Auctions ; E62 - Fiscal Policy ; H30 - General