Lugovskyy, Volodymyr; Puzzello, Daniela; Tucker, Steven - Volkswirtschaftliche Fakultät, … - 2008
Pervasive overbidding represents a well-documented feature of all-pay auctions. Aggregate bids exceed Nash predictions in laboratory experiments, and individuals often submit bids that guarantee negative profits. This paper examines three factors that may reduce pervasive overbidding: (a)...