Contests – A comparison of timing and information structures
AbstractWe study a model of imperfectly discriminating contests with two ex ante symmetric agents. We consider four institutional settings: Contestants move either sequentially or simultaneously and in addition their types are either public or private information. We find that an effort-maximizing designer of the contest prefers the sequential to the simultaneous setting from an ex ante perspective. Moreover, the sequential contest Pareto dominates the simultaneous one when the contestants’ types are sufficiently negatively correlated. Regarding the information structure, the designer ex ante prefers private information while the contestants prefer public information.
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Bibliographic InfoPaper provided by University of Munich, Department of Economics in its series Discussion Papers in Economics with number 12209.
Date of creation: Apr 2011
Date of revision:
sequential contests; asymmetric information; rent-seeking;
Other versions of this item:
- Sandra Ludwig, 2012. "Contests—a comparison of timing and information structures," Public Choice, Springer, vol. 153(3), pages 341-355, December.
- D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-04-23 (All new papers)
- NEP-CDM-2011-04-23 (Collective Decision-Making)
- NEP-CTA-2011-04-23 (Contract Theory & Applications)
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