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Contests with Rank-Order Spillovers
Baye, Michael R.; Kovenock, Dan; Vries, Casper G. de - Tinbergen Institute - 2009
, tournaments, R&D races, models of ligitation, and a host of other contests. …-order contests with complete information, in which each player's strategy generates direct or indirect affine "spillover" effects … important economic environments, as well as in classic contests adapted to recent experimental and behavioral models where …
Persistent link: https://www.econbiz.de/10004964456
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The Unique-lowest Sealed-bid Auction
Houba, Harold; Laan, Dinard van der; Veldhuizen, Dirk - Tinbergen Institute - 2008
Unique-lowest sealed-bid auctions are auctions in which participation is endogenous and the winning bid is the lowest bid among all unique bids. Such auctions admit very many Nash equilibria (NEs) in pure and mixed strategies. The two-bidders' auction is similar to the Hawk-Dove game, which...
Persistent link: https://www.econbiz.de/10005136936
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Competitive Bidding in Auctions with Private and Common Values
Goeree, Jacob K.; Offerman, Theo - Tinbergen Institute - 2000
The objects for sale in most auctions possess both private and common value elements. This salient feature has not yet been incorporated into a strategic analysis of equilibrium bidding behaviour. This paper reports such an analysis for a stylised model in which bidders receive a private value...
Persistent link: https://www.econbiz.de/10005450754
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On Borel Probability Measures and Noncooperative Game Theory
Frenk, J.B.G.; Kassay, G.; Protassov, V. - Tinbergen Institute - 2002
In this paper the well-known minimax theorems of Wald, Ville and Von Neumann are generalized under weaker topological conditions on the payoff function <i>f</i> and/or extended to the larger set of the Borel probability measures instead of the set of mixed strategies.
Persistent link: https://www.econbiz.de/10005450809