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Sequential two-prize contests

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  • Aner Sela

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    Abstract

    We study a two-stage all-pay auction with two identical prizes. In each stage, the players compete for one prize. Each player may win either one or two prizes. We analyze the unique subgame-perfect equilibrium of our model with two players where each player’s marginal values for the prizes are decreasing, constant, or increasing. We also analyze an equilibrium of the model with more than two players where each player’s marginal values for the prizes are nonincreasing. Copyright Springer-Verlag 2012

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    File URL: http://hdl.handle.net/10.1007/s00199-010-0547-9
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    Bibliographic Info

    Article provided by Springer in its journal Economic Theory.

    Volume (Year): 51 (2012)
    Issue (Month): 2 (October)
    Pages: 383-395

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    Handle: RePEc:spr:joecth:v:51:y:2012:i:2:p:383-395

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    Related research

    Keywords: Multi-stage contests; All-pay auctions; D44; D82; J31; J41;

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    References

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    1. Kai A. Konrad, 2005. "Silent Interests and All-Pay Auctions," CESifo Working Paper Series 1473, CESifo Group Munich.
    2. Chen Cohen & Todd R. Kaplan & Aner Sela, 2008. "Optimal rewards in contests," RAND Journal of Economics, RAND Corporation, vol. 39(2), pages 434-451.
    3. Arye L. Hillman & John G. Riley, 1989. "Politically Contestable Rents And Transfers," Economics and Politics, Wiley Blackwell, vol. 1(1), pages 17-39, 03.
    4. Kaplan, Todd R. & Luski, Israel & Wettstein, David, 2003. "Innovative activity and sunk cost," International Journal of Industrial Organization, Elsevier, vol. 21(8), pages 1111-1133, October.
    5. Barut, Yasar & Kovenock, Dan, 1998. "The symmetric multiple prize all-pay auction with complete information," European Journal of Political Economy, Elsevier, vol. 14(4), pages 627-644, November.
    6. 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.
    7. 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.
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    Cited by:
    1. Matthias Dahm & Patricia Esteve, . "Affirmative Action through Extra Prizes," Discussion Papers 2014-08, The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham.
    2. Kai Konrad & Dan Kovenock, 2012. "Introduction," Economic Theory, Springer, vol. 51(2), pages 241-245, October.
    3. Hirata, Daisuke, 2014. "A model of a two-stage all-pay auction," Mathematical Social Sciences, Elsevier, vol. 68(C), pages 5-13.

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