Matches in SemOpenAlex for { <https://semopenalex.org/work/W1569046354> ?p ?o ?g. }
Showing items 1 to 84 of
84
with 100 items per page.
- W1569046354 abstract "We propose a new all-pay auction format in which risk-loving bidders pay a constant fee each time they bid for an object whose monetary value is common knowledge among the bidders, and bidding fees are the only source of benefit for the seller. We show that for the proposed model there exists a {unique} Symmetric Subgame Perfect Equilibrium (SSPE). The characterized SSPE is stationary when re-entry in the auction is allowed, and it is Markov perfect when re-entry is forbidden. Furthermore, we fully characterize the expected revenue of the seller. Generally, with or without re-entry, it is more beneficial for the seller to choose $v$ (value of the object), $s$ (sale price), and $c$ (bidding fee) such that $frac{v-s}{c}$ becomes sufficiently large. In particular, when re-entry is permitted: the expected revenue of the seller is emph{independent} of the number of bidders, decreasing in the sale price, increasing in the value of the object, and decreasing in the bidding fee; Moreover, the seller's revenue is equal to the value of the object when players are risk neutral, and it is strictly greater than the value of the object when bidders are risk-loving. We further show that allowing re-entry can be important in practice. Because, if the seller were to run such an auction without allowing re-entry, the auction would last a long time, and for almost all of its duration have only two remaining players. Thus, the seller's revenue relies on those two players being willing to participate, without any breaks, in an auction that might last for thousands of rounds" @default.
- W1569046354 created "2016-06-24" @default.
- W1569046354 creator A5075915667 @default.
- W1569046354 date "2011-08-09" @default.
- W1569046354 modified "2023-09-27" @default.
- W1569046354 title "Resource Allocation with Costly Participation" @default.
- W1569046354 cites W1635332027 @default.
- W1569046354 cites W1869912020 @default.
- W1569046354 cites W1986396558 @default.
- W1569046354 cites W1987806401 @default.
- W1569046354 cites W2005213746 @default.
- W1569046354 cites W2026176904 @default.
- W1569046354 cites W2038280165 @default.
- W1569046354 cites W2083100616 @default.
- W1569046354 cites W2102685249 @default.
- W1569046354 cites W2105973197 @default.
- W1569046354 cites W2119493606 @default.
- W1569046354 cites W3049570326 @default.
- W1569046354 cites W3123706836 @default.
- W1569046354 cites W107860399 @default.
- W1569046354 cites W148908813 @default.
- W1569046354 hasPublicationYear "2011" @default.
- W1569046354 type Work @default.
- W1569046354 sameAs 1569046354 @default.
- W1569046354 citedByCount "0" @default.
- W1569046354 crossrefType "posted-content" @default.
- W1569046354 hasAuthorship W1569046354A5075915667 @default.
- W1569046354 hasConcept C10138342 @default.
- W1569046354 hasConcept C112481924 @default.
- W1569046354 hasConcept C11276805 @default.
- W1569046354 hasConcept C119857082 @default.
- W1569046354 hasConcept C143684077 @default.
- W1569046354 hasConcept C144133560 @default.
- W1569046354 hasConcept C154945302 @default.
- W1569046354 hasConcept C162324750 @default.
- W1569046354 hasConcept C175444787 @default.
- W1569046354 hasConcept C195487862 @default.
- W1569046354 hasConcept C2776291640 @default.
- W1569046354 hasConcept C2781238097 @default.
- W1569046354 hasConcept C41008148 @default.
- W1569046354 hasConcept C83426474 @default.
- W1569046354 hasConcept C9233905 @default.
- W1569046354 hasConceptScore W1569046354C10138342 @default.
- W1569046354 hasConceptScore W1569046354C112481924 @default.
- W1569046354 hasConceptScore W1569046354C11276805 @default.
- W1569046354 hasConceptScore W1569046354C119857082 @default.
- W1569046354 hasConceptScore W1569046354C143684077 @default.
- W1569046354 hasConceptScore W1569046354C144133560 @default.
- W1569046354 hasConceptScore W1569046354C154945302 @default.
- W1569046354 hasConceptScore W1569046354C162324750 @default.
- W1569046354 hasConceptScore W1569046354C175444787 @default.
- W1569046354 hasConceptScore W1569046354C195487862 @default.
- W1569046354 hasConceptScore W1569046354C2776291640 @default.
- W1569046354 hasConceptScore W1569046354C2781238097 @default.
- W1569046354 hasConceptScore W1569046354C41008148 @default.
- W1569046354 hasConceptScore W1569046354C83426474 @default.
- W1569046354 hasConceptScore W1569046354C9233905 @default.
- W1569046354 hasLocation W15690463541 @default.
- W1569046354 hasOpenAccess W1569046354 @default.
- W1569046354 hasPrimaryLocation W15690463541 @default.
- W1569046354 hasRelatedWork W1500829219 @default.
- W1569046354 hasRelatedWork W161187638 @default.
- W1569046354 hasRelatedWork W1868793257 @default.
- W1569046354 hasRelatedWork W2049445537 @default.
- W1569046354 hasRelatedWork W2051677886 @default.
- W1569046354 hasRelatedWork W2058972815 @default.
- W1569046354 hasRelatedWork W2108274207 @default.
- W1569046354 hasRelatedWork W2267661888 @default.
- W1569046354 hasRelatedWork W2404080493 @default.
- W1569046354 hasRelatedWork W2419310366 @default.
- W1569046354 hasRelatedWork W2499194536 @default.
- W1569046354 hasRelatedWork W2583084428 @default.
- W1569046354 hasRelatedWork W2738804617 @default.
- W1569046354 hasRelatedWork W2889538976 @default.
- W1569046354 hasRelatedWork W2949149949 @default.
- W1569046354 hasRelatedWork W3047112648 @default.
- W1569046354 hasRelatedWork W3121187222 @default.
- W1569046354 hasRelatedWork W3125059658 @default.
- W1569046354 hasRelatedWork W3181446052 @default.
- W1569046354 hasRelatedWork W2184178561 @default.
- W1569046354 isParatext "false" @default.
- W1569046354 isRetracted "false" @default.
- W1569046354 magId "1569046354" @default.
- W1569046354 workType "article" @default.