We study a sequential all-pay auction where heterogeneous contestants are privately informed about a parameter (ability) that affects their cost of effort. In the case of two contestants, contestant 1 (the first mover) makes an effort in the first period, while contestant 2 (the second mover)...

If firms compete in all-pay auctions with complete information, silent shareholdings introduce asymmetric externalities into the all-pay auction framework. If the strongest firm owns a large share in the second strongest firm, this may make the strongest firm abstain from bidding. As a...

This paper examines the role of asymmetry in all-pay auctions. In particular, this paper decomposes a change in players' valuations into the absolute change and the relative change, and analyzes how these changes a¢çect total expenditures. An increase in the sum of players' valuations...