Sela, Aner; Megidish, Reut - Economics Department, Ben Gurion University of the Negev - 2010
We study a sequential two-stage all-pay auction with two identical prizes. In each stage, the players compete for one prize and each player may win either one or two prizes. The designer may impose a cap on the players' bids in each of the stages. We analyze the equilibrium in this sequential...