All-Pay Auctions with Different Forfeits
Name
games-17-00002-v2.pdf
Size
304.79 KB
Format
Adobe PDF
Checksum (MD5)
6b124b01e1a9f7a94fa53e417c7e4109
Author(s)
Kang, Benjamin
Unwin, James
Date Issued
January 9, 2026
Journal
Games
Publisher
Multidisciplinary Digital Publishing Institute
Citation
Kang, Benjamin, and James Unwin. 2026. "All-Pay Auctions with Different Forfeits" Games 17, no. 1: 2.
Version
Final published version
Abstract
In an auction, each party bids a certain amount, and the one who bids the highest is the winner. Interestingly, auctions can also be used as models for other real-world systems. In an all-pay auction all parties must pay a forfeit for bidding. In the most commonly studied all-pay auction, parties forfeit their entire bid, and this has been considered as a model for expenditure on political campaigns. Here, we consider a number of alternative forfeits that might be used as models for different real-world competitions, such as preparing bids for defense or infrastructure contracts.
MIT Department
Massachusetts Institute of Technology. Department of Mathematics
Terms of Use
Creative Commons Attribution
Persistent DSpace Link
DOI of Published Version
https://doi.org/10.3390/g17010002
