In common-value auctions and contests economic agents often havevarying levels of information regarding the value of … contests increases relative to the case of independentprizes.Chapter III experimentally considers the role of asymmetric … asymmetric information in one-shot common-valueall-pay auctions and lottery contests from both experimental and …

the highest level of total group effort. A theory of contests developed by Moldovanu et al. (2007) predicts that the …