What kind of auction is all-pay auction?
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christine
Apprentice
Joined: 25 Dec 2004
Posts: 3
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 Posted: 05/21/08 - 06:01 Post subject: |
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| Hello there people. My name is Aretha and I was wondering if you could explain to me one particular type of auction. I know that there are many types of auctions out there and that the English auction is the most common. But I am interested in all-pay auction. What kind of auction is all-pay auction? Thank you. |
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emilia
Apprentice
Joined: 17 Feb 2007
Posts: 2
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| Posted: 06/20/08 - 00:58 Post subject: |
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| Hi there Aretha. You are right about the auctions; there are so many types of them nowadays. All-pay auction is not the common one and I think that it is mostly used in theory, rarely in practice. All-pay auction is when every bidder has to pay no matter if he won or not. I have to say that it is a little bit silly. There are two subtypes of this kind of auction. There is Tullock auction and so-called war of attrition. Well, that would be all that I can tell you about all-pay auctions. In case you have any other questions regarding this subject, I’ll be happy to answer them. Bye! |
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