Decision Sciences
4 years ago

Winning an auction may not be about bidding more, but smarter.

2 views
RePEc: Research Papers in Economics
When Bidding More is Not Enough: All-Pay Auctions with Handicaps
Eberhard Feess, Gerd Muehlheusser, Markus Walzl

Paper Summary

The article explores auctions where one bidder has an advantage over the other, affecting how much they need to bid to win. The researchers studied how this impacts bidding strategies and found that there is a unique winning strategy in these situations.

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