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Best-of-three all-pay auctions

We study a best-of-three all-pay auction. It is shown that with values of winning and without values of losing, this auction is less productive (the players' total expected effort is smaller) than the one-stage all-pay auction. However, with different values of losing over the contest's stages it may be more productive than the one-stage all-pay auction.
Year of publication:
2011
Authors: Sela, Aner
Published in:
Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 112.2011, 1, p. 67-70
Publisher: Elsevier
Keywords: Multi-stage contests Best-of-three contests All-pay auctions
Type of publication: Article
Source:
Persistent link: https://www.econbiz.de/10009146120
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