We show that all-pay auctions dominate first-price sealed-bid auctions when bidders face budget constraints. This ranking is explained by the fact that budget constraints bind less frequently in the all-pay auctions, which leads to more aggressive bidding in that format.

Perfect capital markets require linear budget constraints, without credit rationing creating any tight borrowing constraints before the end of agents’ economic lifetimes. Yet lifetime linear budget constraints are totally unenforceable. This paper considers what allocations can be enforced through monitoring in a simple two period economy when agents have private information regarding their end...

We consider the general problem of online convex optimization with time-varying budget constraints in presence predictions for next cost and constraint functions, that arises a plethora network resource management problems. A novel saddle-point algorithm is designed by combining Follow-The-Regularized-Leader iteration prediction-adaptive dynamic steps. The achieves <inline-formula xmlns:mml="ht...

A major challenge faced by marketers attempting to optimize their advertising campaigns is to deal with budget constraints. The problem is even harder in the face of multidimensional budget constraints, particularly in the presence of many decision variables involved and the interplay among the decision variables through such constraints. Concise bidding strategies help advertisers deal with th...