Browsing NHH Brage by Author "Murto, Pauli"

Now showing items 1-3 of 3

    • All-pay auctions with affiliated values 

      Chi, Chang Koo; Murto, Pauli; Välimäki, Juuso (DP SAM;13/2017, Working paper, 2017-08)
      This paper analyzes all-pay auctions where the bidders have affiliated values for the object for sale and where the signals take binary values. Since signals are correlated, high signals indicate a high degree of competition ...

    • Input price risk and optimal timing of energy investment : choice between fossil- and biofuels 

      Murto, Pauli; Nese, Gjermund (Working Paper, Working paper, 2002-05)
      We consider energy investment, when a choice has to be made between fossil fuel and biomass fired production technologies. A dynamic model is presented to illustrate the effect of the different degrees of input price ...

    • War of attrition with affiliated values. 

      Chi, Chang Koo; Murto, Pauli; Välimäki, Juuso (DP SAM;16/2017, Working paper, 2017)
      We study the war of attrition between two players when the players’ signals are binary and affiliated. Our model covers both the case of common values and affiliated private values. We characterize the unique symmetric ...