`b_i = ((n-1)/n)*((v_i^n)/(bar v^(n-1)))`

Enter a value for all fields

The all pay auction symmetric equilibrium bidding equation can be used as a strategy for placing bids in a all pay auction. An all pay auction is an auction in which all bidders pay regardless they win, but the highest bidder win the auction. This is also known as a Tullock auction.

Inputs

Suppose an item is being auctioned off to an audience of 20 individual bidders (n) and the items valuation (vi) to you is 50$ and the upper limit of its valuation 100 , then the following would be inputted into the calculator above

n	70
vi	50
value upper limit	100

Explanation

In inputting the above values we get that the symmetric and monotonic equilibrium strategy is to place a bid (bi) of 0.0009$.