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Type | Working Paper |
Scope | Discipline-based scholarship |
Title | A "fractal" solution to the chopstick auction |
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Institution | University of Zurich |
Series Name | Working paper series / Department of Economics |
Number | 229 |
ISSN | 1664-7041 |
Number of Pages | 22 |
Date | 2017 |
Abstract Text | This paper constructs a novel equilibrium in the chopstick auction of Szentes and Rosenthal (Games and Economic Behavior, 2003a, 2003b). In contrast to the existing solution, the identified equilibrium strategy allows a simple and intuitive characterization. Moreover, its best-response set has the same Hausdorff dimension as its support, which may be seen as a robustness property. The analysis also reveals some new links to the literature on Blotto games. |
Official URL | http://www.econ.uzh.ch/static/wp/econwp229.pdf |
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Keywords | Chopstick auction, exposure problem, self-similarity, Blotto games, Auktion, Gleichgewichtsmodell, kooperatives Verhalten |
Additional Information | Revised version |