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http://hdl.handle.net/10419/25707
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| Title: | | Less fighting than expected: experiments with wars of attrition and all-pay auctions  |
| 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 volunteers 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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