Ewerhart, Christian (2017). A "fractal" solution to the chopstick auction. Working paper series / Department of Economics 229, University of Zurich.
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.
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.
| 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, Auktion, Gleichgewichtsmodell, kooperatives Verhalten |
| Language: | English |
| Date: | April 2017 |
| Deposited On: | 22 Jun 2016 10:30 |
| Last Modified: | 18 Mar 2022 10:50 |
| Series Name: | Working paper series / Department of Economics |
| Number of Pages: | 22 |
| ISSN: | 1664-7041 |
| Additional Information: | Revised version |
| OA Status: | Green |
| Official URL: | http://www.econ.uzh.ch/static/wp/econwp229.pdf |
| Related URLs: | http://www.econ.uzh.ch/static/workingpapers.php |
Ewerhart, Christian