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Caps In Sequential Contests

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  • Aner Sela

    ()
    (Department of Economics, Ben-Gurion University of the Negev, Israel)

  • Reut Megidish

    ()
    (Ben-Gurion University of the Negev, Israel)

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    Abstract

    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 all-pay auction with bid caps and show that capping the players' bids is pro?table for a designer who wishes to maximize the players' expected total bid.

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    File URL: http://www.ec.bgu.ac.il/monaster/admin/papers/1007.pdf
    File Function: First version, 2010
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    Bibliographic Info

    Paper provided by Ben-Gurion University of the Negev, Department of Economics in its series Working Papers with number 1007.

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    Length: 19 pages
    Date of creation: 2010
    Date of revision:
    Handle: RePEc:bgu:wpaper:1007

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    Related research

    Keywords: Multi-stage contests; All-pay auctions; Bid caps;

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    1. Yeon-Koo Che & Ian Gale, 1998. "Caps on Political Lobbying," Microeconomics 9809003, EconWPA.
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