Franke, Jörg; Leininger, Wolfgang; Wasser, Cédric - Rheinisch-Westfälisches Institut für … - 2014
We characterize revenue maximizing head starts for all-pay auctions and lottery contests with many heterogeneous players. We show that under optimal head starts all-pay auctions revenue-dominate lottery contests for any degree of heterogeneity among players. Moreover, all-pay auctions with...