DP8949 Multi-Stage Sequential All-Pay Auctions
Author(s): | Ella Segev, Aner Sela |
Publication Date: | April 2012 |
Keyword(s): | All-pay auctions, Sequential contests |
JEL(s): | D44 |
Programme Areas: | Industrial Organization |
Link to this Page: | 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.