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A "fractal" solution to the chopstick auction


Ewerhart, Christian (2017). A "fractal" solution to the chopstick auction. Working paper series / Department of Economics 229, University of Zurich.

Abstract

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.

Abstract

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.

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Additional indexing

Item Type:Working Paper
Communities & Collections:03 Faculty of Economics > Department of Economics
Working Paper Series > Department of Economics
Dewey Decimal Classification:330 Economics
JEL Classification:C02, C72, D44
Uncontrolled Keywords:Chopstick auction, exposure problem, self-similarity, Blotto games
Language:English
Date:April 2017
Deposited On:22 Jun 2016 10:30
Last Modified:08 Dec 2017 19:45
Series Name:Working paper series / Department of Economics
Number of Pages:22
ISSN:1664-7041
Additional Information:Revised version
Official URL:http://www.econ.uzh.ch/static/wp/econwp229.pdf
Related URLs:http://www.econ.uzh.ch/static/workingpapers.php

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Download PDF  'A "fractal" solution to the chopstick auction'.
Preview
Content: Published Version
Filetype: PDF (Revised version April 2017)
Size: 206kB