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depending on their valuations. In particular, we identify suffcient conditions for positive sorting, meaning that the share of … that negative rather than positive sorting may arise in equilibrium. Further results show how incumbency rents and sorting …
Persistent link: https://www.econbiz.de/10011569559
subsequent contest if the degree of heterogeneity in the current (subsequent) contest is sufficiently large (small). We confirm … are (i) less likely to be fielded when the heterogeneity in the current match increases and (ii) more likely to receive a … fifth yellow card in the current match when the heterogeneity in the next match increases or when the heterogeneity in the …
Persistent link: https://www.econbiz.de/10011962333
Contest or auction designers who want to maximize the overall revenue are frequently concerned with a trade-off between contest homogeneity and inclusion of contestants with high valuations. In our experimental study, we find that it is not profitable to exclude the most able contestant in favor...
Persistent link: https://www.econbiz.de/10010281542
Contest or auction designers who want to maximize the overall revenue are frequently concerned with a trade-off between contest homogeneity and inclusion of bidders with high valuations. In our experimental study, we find that it is not profitable to exclude the most able bidder in favor of...
Persistent link: https://www.econbiz.de/10010403250
Contest designers or managers who want to maximize the overall revenue of a contest (relative performance scheme) are frequently concerned with a trade-off between contest homogeneity and inclusion of contestants with high valuations. In our experimental study, we find that it is not profitable...
Persistent link: https://www.econbiz.de/10011638535
This paper constructs a novel equilibrium in the chopstick auction of Szentes and Rosenthal (Games and Economic Behavior, 2003a, 2003b). In contrast to the existing solution, the identified equilibrium strategy allows a simple and intuitive characterization. Moreover, its best-response set has...
Persistent link: https://www.econbiz.de/10012969046
The present paper constructs a novel solution to the chopstick auction, and thereby disproves a conjecture of Szentes and Rosenthal (Games and Economic Behavior, 2003a, 2003b). In contrast to the existing solution, the identified equilibrium strategy allows a simple and intuitive...
Persistent link: https://www.econbiz.de/10011489976
We give a sufficient condition on the type space for revenue equivalence when the set of social alternatives consists of probability distributions over a finite set. Types are identified with real-valued functions that assign valuations to elements of this finite set, and the type space is...
Persistent link: https://www.econbiz.de/10011702275
This paper constructs a novel equilibrium in the chopstick auction of Szentes and Rosenthal (Games and Economic Behavior, 2003a, 2003b). In contrast to the existing solution, the identified equilibrium strategy allows a simple and intuitive characterization. Moreover, its best-response set has...
Persistent link: https://www.econbiz.de/10011640552
This paper studies the existence of equilibrium solution concepts in a large class of economic models with discontinuous payoff functions. The issue is well understood for Nash equilibria, thanks to Reny’s better-reply security con- dition ( Reny 1999) and its recent improvements (Barelli and...
Persistent link: https://www.econbiz.de/10011704653