This paper analyzes a two-player all-pay auction with incomplete information. More precisely, one bidder is uncertain about the size of the initial advantage of his rival modeled as a head start in the auction. I derive the unique Bayesian Nash equilibrium outcome for a large class of cumulative...

This paper introduces a class of contest models in which each player decides when to stop a privately observed Brownian motion with drift and incurs costs depending on his stopping time. The player who stops his process at the highest value wins a prize. We prove existence and uniqueness of a...

We consider a two-player contest model in which breakthroughs arrive according to privately observed Poisson processes. Each player's process continues as long as she exerts costly effort. The player who collects most breakthroughs until a predetermined deadline wins a prize.We derive Nash...