Chinese auction

Chinese auction is a type of the all-pay auction, where the probability of winning depends on the relative size of a participant's bid.^[1] The choice of the winner is done by a lottery, whereby the bidders compete for a higher chance of winning.^[1]

It is also known as penny raffle, chance auction and tricky tray.^[2]^[3]

^ ^a ^b Benegas, Mauricio (1 January 2015). "Bidding behavior in a symmetric Chinese auction". EconomiA. 16 (1): 93–110. doi:10.1016/j.econ.2015.03.003. hdl:10419/179589. ISSN 1517-7580. S2CID 154752695.
^ Cite error: The named reference :2 was invoked but never defined (see the help page).
^ MCLENNAN, Andy (2018). "Efficient disposal equilibria of pseudomarkets" (PDF). Workshop on Game Theory: 8.

[:1-1] Benegas, Mauricio (1 January 2015). "Bidding behavior in a symmetric Chinese auction". EconomiA. 16 (1): 93–110. doi:10.1016/j.econ.2015.03.003. hdl:10419/179589. ISSN 1517-7580. S2CID 154752695.

[:2-2] Cite error: The named reference :2 was invoked but never defined (see the help page).

[3] MCLENNAN, Andy (2018). "Efficient disposal equilibria of pseudomarkets" (PDF). Workshop on Game Theory: 8.

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