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...

Second price allpay auctions (wars of attritions) have an evolutionarily stable equilibrium in pure strategies if valuations are private information. I show that for any level of uncertainty there exists a pure deviation strategy close to the equilibrium strategy such that for some valuations...

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...

We justify risk neutral equilibrium bidding in commonly known fair division games with incompleteinformation by an evolutionary setup postulating (i) minimal common knowledge, (ii) optimal responses to conjectural beliefs how others behave and (iii) evolutionary selection of conjectural beliefs...

Building upon the static model of Athey and Ellison (2008), we demonstrate the efficient convergence of dynamic position auctions in the presence of consumer search. The entry of low-quality advertisers does not slow this convergence. Our methods are extensions of those introduced by Cary et al....

This paper studies Colonel Blotto games with two battlefields where one player has a head start in the form of additional troops on one of the battlefields. Such games arise naturally in marketing, electoral competition, and military conflict. Sion and Wolfe (1957) have shown that, if the...