All pay auctions with certain and uncertain prizes - a comment
Working paper
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http://hdl.handle.net/11250/2366772Utgivelsesdato
2015Metadata
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In the important contribution "All pay auctions with certain and uncertain prizes" published in Games and Economic Behavior May 2014, Minchuk and and Sela analyze an all pay auction with multiple prizes. The specific feature of the model is that all valuations are common except for the valuation of one of the prizes, for which contestants have private valuations. However, the equilibrium characterization derived in the paper is incorrect. This note derives the correct equilibrium of the model.