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Persistent link: https://www.econbiz.de/10008596778
We use experiments to compare dynamic and static wars of attrition (i.e. second-price all-pay auctions) and first-price all-pay auctions. Many other studies find overbidding in first-price all-pay auctions. We can replicate this property. In wars of attrition, however, we find systematic...
Persistent link: https://www.econbiz.de/10005090548
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