We study an asymmetric all-pay auction with a general utility function. We show that high-type bidders in all-pay auction with lower density, are bidding more aggressively than bidders with higher density This result is contradictory to the result in Parreiras and Rubinchik (2010) on aggressive bidding of strong bidders.
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Purdue Univ, Krannert Sch Management, Dept Econ, W Lafayette, IN 47907 USAPurdue Univ, Krannert Sch Management, Dept Econ, W Lafayette, IN 47907 USA
Klose, Bettina
Schweinzer, Paul
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Alpen Adria Univ Klagenfurt, Dept Econ, A-9020 Klagenfurt, AustriaPurdue Univ, Krannert Sch Management, Dept Econ, W Lafayette, IN 47907 USA
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Inst Nacl Matemat Pure & Aplicada IMPA, Rio De Janeiro, Brazil
Getulio Vargas Fdn EPGE FGV, Grad Sch Econ, Rio De Janeiro, BrazilUniv Carlos III Madrid, Madrid, Spain
Araujo, Aloisio
de Castro, Luciano I.
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Univ Carlos III Madrid, Madrid, Spain
Univ Illinois, Champaign, IL 61820 USAUniv Carlos III Madrid, Madrid, Spain
de Castro, Luciano I.
Moreira, Humberto
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Getulio Vargas Fdn EPGE FGV, Grad Sch Econ, Rio De Janeiro, BrazilUniv Carlos III Madrid, Madrid, Spain