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The Role of Information Revelation in Elimination Contests

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  • Jun Zhang
  • Ruqu Wang

Abstract

In this article, we investigate how information revelation rules affect the existence and the efficiency of equilibria in two-round elimination contests. We establish that no symmetric separating equilibrium exists under the full revelation rule and find that the non-existence result is very robust. We then characterise a partially efficient separating equilibrium under the partial revelation rule when players' valuations are uniformly distributed. We finally investigate the no revelation rule and find that it is both most efficient and optimal in maximising the total efforts from the contestants. Within our framework, more information revelation leads to less efficient outcomes. Copyright © The Author(s). Journal compilation © Royal Economic Society 2009.

Suggested Citation

  • Jun Zhang & Ruqu Wang, 2009. "The Role of Information Revelation in Elimination Contests," Economic Journal, Royal Economic Society, vol. 119(536), pages 613-641, March.
  • Handle: RePEc:ecj:econjl:v:119:y:2009:i:536:p:613-641
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    References listed on IDEAS

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    1. Kip Smith & John Dickhaut & Kevin McCabe & José V. Pardo, 2002. "Neuronal Substrates for Choice Under Ambiguity, Risk, Gains, and Losses," Management Science, INFORMS, vol. 48(6), pages 711-718, June.
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    Cited by:

    1. J. Atsu Amegashie, 2009. "Third-Party Intervention in Conflicts and the Indirect Samaritan's Dilemma," CESifo Working Paper Series 2695, CESifo Group Munich.
    2. Osório Costa, Antonio Miguel, 2010. "Signaling in Dynamic Contests: Some Impossibility Results," Working Papers 2072/151621, Universitat Rovira i Virgili, Department of Economics.
    3. Said, Maher, 2012. "Auctions with dynamic populations: Efficiency and revenue maximization," Journal of Economic Theory, Elsevier, vol. 147(6), pages 2419-2438.
    4. Klein, Arnd Heinrich & Schmutzler, Armin, 2017. "Optimal effort incentives in dynamic tournaments," Games and Economic Behavior, Elsevier, vol. 103(C), pages 199-224.
    5. Hirata, Daisuke, 2014. "A model of a two-stage all-pay auction," Mathematical Social Sciences, Elsevier, vol. 68(C), pages 5-13.
    6. Aoyagi, Masaki, 2010. "Information feedback in a dynamic tournament," Games and Economic Behavior, Elsevier, vol. 70(2), pages 242-260, November.
    7. Jun Zhang, 2008. "Simultaneous Signaling in Elimination Contests," Working Papers 1184, Queen's University, Department of Economics.
    8. Chiappinelli, Olga, 2014. "An elimination contest with non-sunk bids," MPRA Paper 56140, University Library of Munich, Germany.
    9. repec:kap:expeco:v:20:y:2017:i:3:d:10.1007_s10683-016-9504-1 is not listed on IDEAS
    10. Tomer Ifergane & Aner Sela, 2017. "Signaling In Contests," Working Papers 1708, Ben-Gurion University of the Negev, Department of Economics.

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