Bayesian Nash equilibrium in all-pay auctions with interdependent types
In this paper, the author prove the existence of a behavioral-strategy Bayesian Nash equilibrium in all-pay auctions with interdependent signals. The author initially assume a specific tie-breaking rule that, at any type profile, deterministically awards the object to one of the top bidders at that profile that has the highest value. It is then relatively straightforward to check that this auction satisfies the two conditions of the main equilibrium existence result in [\textit{O. Carbonell-Nicolau} and \textit{R. P. Mclean}, Math. Oper. Res. 43, No. 1, 100--129 (2018; Zbl 1445.91007)], uniform payoff security and aggregate-payoff upper semi-continuity. An equilibrium under that particular tie-breaking rule can therefore be found. It is shown that for any tie-breaking rule in an all-pay auction, any equilibrium puts zero ex-ante probability on bid profiles with ties at the highest bid, and that all unilateral strategic improvements can be done almost as profitably by avoiding such ties.\N\NSection 5 discusses some extensions that mix auctions and contests.
- Asymmetric all-pay auctions with interdependent valuations
- Two-bidder all-pay auctions with interdependent valuations, including the highly competitive case
- Existence of equilibria in discontinuous Bayesian games
- Monotone equilibrium of two-bidder all-pay auctions redux
- Bayesian Nash equilibrium existence in (almost continuous) contests
- All-Pay Contests
- An analysis of the war of attrition and the all-pay auction
- Asymmetric all-pay auctions with incomplete information: The two-player case
- Bayesian Nash equilibrium existence in (almost continuous) contests
- Distributional Strategies for Games with Incomplete Information
- Equilibrium existence in games with ties
- Equilibrium in Sealed High Bid Auctions
- Existence of equilibria in discontinuous Bayesian games
- Generalized Equilibrium Results for Games with Incomplete Information
- Invariance of the equilibrium set of games with an endogenous sharing rule
- Invariant equilibria and classes of equivalent games
- On equilibrium existence in generalized multi-prize nested lottery contests
- On monotone pure-strategy Bayesian-Nash equilibria of a generalized contest
- On the existence and uniqueness of pure Nash equilibrium in rent-seeking games
- On the existence of Nash equilibrium in Bayesian games
- On the Existence of Pure and Mixed Strategy Nash Equilibria in Discontinuous Games
- The Existence of Equilibrium in Discontinuous Economic Games, II: Applications
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