Franke, Jörg; Kanzow, Christian; Leininger, Wolfgang; … - 2012
and lottery contests. Our main result reveals that an appropriately biased all-pay auction revenue dominates the optimally … biased lottery contest for all levels of heterogeneity among contestants. Moreover, such a biased all-pay auction will never … make use of the celebrated exclusion principle advanced by Baye et al. (1993). -- All-pay auction ; lottery contest ; bias …