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We study two-player all-pay contests in which there is a positive probability of a tied outcome. We show that the players' efforts in equilibrium do not depend on the expected prize in the case of a tie given that this prize is smaller than the prize for winning. The implications of this result...
Persistent link: https://www.econbiz.de/10014589147
We study all-pay contests with an exogenous minimal effort constraint where a player can participate in a contest only if his effort (output) is equal to or higher than the minimal effort constraint. Contestants are privately informed about a parameter (ability) that affects their cost of...
Persistent link: https://www.econbiz.de/10008727314
We study two-player all-pay contests in which there is a positive probability of a tied outcome. We show that the players' efforts in equilibrium do not depend on the expected prize in the case of a tie given that this prize is smaller than the prize for winning. The implications of this result...
Persistent link: https://www.econbiz.de/10005579657
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)...
Persistent link: https://www.econbiz.de/10008854484
We study round-robin and elimination tournaments with three players where one player is dominant, i.e., he has a higher value of winning than his weaker opponents. In every stage, a pair-wise match is modelled as an all-pay auction. We demonstrate that the expected payoff of the weak players in...
Persistent link: https://www.econbiz.de/10011084077
We study two-player common-value all-pay auctions (contests) with asymmetric information under the assumption that one of the players has an information advantage over his opponent. We characterize the unique equilibrium in these contests, and examine the role of information in determining the...
Persistent link: https://www.econbiz.de/10011084342
We study all-pay contests under incomplete information where the reward is a function of the contestant's type and effort. We analyse the optimal reward for the designer when the reward is either multiplicatively separable or additively separable in effort and type. In the multiplicatively...
Persistent link: https://www.econbiz.de/10005661501