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A symmetric two-player all-pay contest with correlated information

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  • Liu, Zhiyang
  • Chen, Bo

Abstract

We construct both monotonic and non-monotonic symmetric Bayesian Nash equilibria for a two-player all-pay contest with binary types and correlated information structures. We also employ a class of parametric distributions to illustrate our equilibrium construction explicitly and to derive some comparative statics results.

Suggested Citation

  • Liu, Zhiyang & Chen, Bo, 2016. "A symmetric two-player all-pay contest with correlated information," Economics Letters, Elsevier, vol. 145(C), pages 6-10.
    • Handle: RePEc:eee:ecolet:v:145:y:2016:i:c:p:6-10
    DOI: 10.1016/j.econlet.2016.05.004
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    References listed on IDEAS

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    1. Konrad, Kai A., 2009. "Strategy and Dynamics in Contests," OUP Catalogue, Oxford University Press, number 9780199549603, Decembrie.
    2. Siegel, Ron, 2014. "Asymmetric all-pay auctions with interdependent valuations," Journal of Economic Theory, Elsevier, vol. 153(C), pages 684-702.
    3. Kai A. Konrad, 2004. "Altruism and envy in contests: An evolutionarily stable symbiosis," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 22(3), pages 479-490, June.
    4. Amann, Erwin & Leininger, Wolfgang, 1996. "Asymmetric All-Pay Auctions with Incomplete Information: The Two-Player Case," Games and Economic Behavior, Elsevier, vol. 14(1), pages 1-18, May.
    5. Krishna, Vijay & Morgan, John, 1997. "An Analysis of the War of Attrition and the All-Pay Auction," Journal of Economic Theory, Elsevier, vol. 72(2), pages 343-362, February.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Ozerturk, Saltuk, 2022. "Media access, bias and public opinion," European Economic Review, Elsevier, vol. 147(C).
    2. Chi, Chang Koo & Murto, Pauli & Valimaki, Juuso, 2017. "All-Pay Auctions with Affiliated Values," MPRA Paper 80799, University Library of Munich, Germany.
    3. Chen, Zhuoqiong, 2021. "Optimal information exchange in contests," Journal of Mathematical Economics, Elsevier, vol. 96(C).
    4. Zhuoqiong Chen, 2021. "All-pay auctions with private signals about opponents’ values," Review of Economic Design, Springer;Society for Economic Design, vol. 25(1), pages 33-64, June.
    5. Anastasia Antsygina & Mariya Teteryatnikova, 2023. "Optimal information disclosure in contests with stochastic prize valuations," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 75(3), pages 743-780, April.

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    More about this item

    Keywords

    All-pay auction; Correlated types; Symmetric equilibrium;
    All these keywords.

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • D44 - Microeconomics - - Market Structure, Pricing, and Design - - - Auctions
    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design

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