suppliers. We also compare other common contests, in particular, fixed-prize tournaments and auctions. Like bonus tournaments …, auctions implement the socially optimal diversity, but usually with higher rents for the suppliers. Fixed-prize tournaments … implement insufficient diversity, but may nevertheless be preferred by the buyer to auctions because of lower supplier rents. …

-price auction. Before the contest, a fixed number of innovators is selected in an entry auction, in order to address the adverse …

Perfectly discriminating contests (or all pay auction) are widely used as a model of situations where individuals …

the opportunity to engage in a sequence of battles in an attempt to win the war. Each battle is an all-pay auction in …