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Title:Less fighting than expected: experiments with wars of attrition and all-pay auctions PDF Logo
Authors:Hoerisch, Hannah
Kirchkamp, Oliver
Issue Date:2007
Series/Report no.:Jena economic research papers 2008,023
Abstract: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.
Subjects:War of attrition
dynamic bidding
all-pay auction
stabilisation
volunteer’s dilemma
experiment
JEL:C72
C92
D44
E62
H30
Document Type:Working Paper
Appears in Collections:Jena Economic Research Papers, MPI für Ökonomik

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