DP8949 Multi-Stage Sequential All-Pay Auctions
|Author(s):||Ella Segev, Aner Sela|
|Publication Date:||April 2012|
|Keyword(s):||All-pay auctions, Sequential contests|
|Programme Areas:||Industrial Organization|
|Link to this Page:||www.cepr.org/active/publications/discussion_papers/dp.php?dpno=8949|
We study multi-stage sequential all-pay contests (auctions) where heterogeneous contestants are privately informed about a parameter (ability) that affects their cost of effort. We characterize the sub-game perfect equilibrium of these multi-stage sequential all-pay contests and analyze the effect of the number of contestants, their types, and their order on the expected highest effort.