Cohen, Chen; Sela, Aner - In: The B.E. Journal of Theoretical Economics 7 (2007) 1
We study two-player all-pay contests in which there is a positive probability of a tied outcome. We show that the … the prize for winning. The implications of this result are twofold. First, in symmetric one-stage contests, the designer …-third of the prize for winning. Second, in multi-stage contests, the designer should not limit the number of stages (tie …