We consider all-pay auctions in the presence of interdependent, affiliated valuations and private budget constraints. For the sealed-bid, all-pay auction we characterize a symmetric equilibrium in continuous strategies for the case of N bidders. Budget constraints encourage more aggressive...

This note demonstrates epsilon equilibria in the first-price auction that achieve lower worst-case expected revenues than the lower bound proposed by Turocy (2008) (Auction choice for ambiguity-averse sellers facing strategic uncertainty, Games Econ. Behav. 62 (2008) 155-179). Additionally, it...

We consider all-pay auctions in the presence of interdependent, affiliated valuations and private budget constraints. For the sealed-bid, all-pay auction we characterize a symmetric equilibrium in continuous strategies for the case of N bidders. Budget constraints encourage more aggressive...