All-Pay Auctions with Different Forfeits

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Tác giả: Benjamin Kang, James Unwin

Ngôn ngữ: eng

Ký hiệu phân loại: 793.5 Forfeit and trick games

Thông tin xuất bản: 2020

Mô tả vật lý:

Bộ sưu tập: Metadata

ID: 163910

Comment: 9 pages. To appear in volume: 2019 Yau High School Awards, International Press (Somerville, MA)In an auction each party bids a certain amount and the one which bids the highest is the winner. Interestingly, auctions can also be used as models for other real-world systems. In an all pay auction all parties must pay a forfeit for bidding. In the most commonly studied all pay auction, parties forfeit their entire bid, and this has been considered as a model for expenditure on political campaigns. Here we consider a number of alternative forfeits which might be used as models for different real-world competitions, such as preparing bids for defense or infrastructure contracts.
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