Konrad, Kai A.; Peters, Wolfgang und Wärneryd, Karl
(22. April 1999):
Delegation in first-price all-pay auctions.
SSE/EFI Working Paper Series in Economics and Finance
Abstract
In a first-price all-pay auction buyers have an incentive to delegate the bidding to agents and to provide these agents with incentives to make bids that differ from the bids the buyers would like to make. Both buyers are better off in this strictly non-cooperative delegation equilibrium and the delegation contracts are asymmetric, even if the buyers and the auction are perfectly symmetric.
| Dokumententyp: | Paper |
|---|---|
| Keywords: | First-price all-pay auctions; contests; strategic delegation |
| Fakultät: | Volkswirtschaft > Lehrstühle > MPI für Steuerrecht und Öffentliche Finanzen |
| Themengebiete: | 300 Sozialwissenschaften > 330 Wirtschaft |
| JEL Classification: | D44 |
| ISSN: | 0143-6570 |
| Ort: | Stockholm |
| Sprache: | Englisch |
| Dokumenten ID: | 24426 |
| Datum der Veröffentlichung auf Open Access LMU: | 31. Mrz. 2015, 07:01 |
| Letzte Änderungen: | 03. Mrz. 2017, 10:54 |
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