|
| |
| Hironori Otsubo |
| |
| ''Nash Equilibria in a Two-Person Discrete All-Pay Auction with Unfair Tie-Break and Complete Information'' |
| ( 2015, Vol. 35 No.4 ) |
| |
| |
| This note provides a full characterization of the set of Nash equilibria in the two-person all-pay auction with discrete strategy space and complete information where bidders are treated differently in case of a tie. There exist a unique symmetric mixed-strategy equilibrium and a continuum of asymmetric mixed-strategy equilibria. In some of these equilibria the bidder who loses in case of a tie is more likely to win the prize than the bidder who wins in case of a tie. |
| |
| |
| Keywords: All-pay auction, Complete information, Discrete strategy space, Unfair tie-breaking rule |
|
| |
| Manuscript Received : Sep 09 2015 | | Manuscript Accepted : Nov 21 2015 |
|
