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Multi-stage sequential all-pay auctions

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  • Segev, Ella
  • Sela, Aner

Abstract

We study multi-stage sequential all-pay contests (auctions) where heterogeneous contestants are privately informed about a parameter (ability) that affects their cost of effort. We characterize the perfect Bayesian equilibrium of these contests and analyze the effect of the number of contestants and their types on the contestants׳ expected highest effort.

Suggested Citation

  • Segev, Ella & Sela, Aner, 2014. "Multi-stage sequential all-pay auctions," European Economic Review, Elsevier, vol. 70(C), pages 371-382.
  • Handle: RePEc:eee:eecrev:v:70:y:2014:i:c:p:371-382
    DOI: 10.1016/j.euroecorev.2014.06.006
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    References listed on IDEAS

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    1. Benny Moldovanu & Aner Sela, 2001. "The Optimal Allocation of Prizes in Contests," American Economic Review, American Economic Association, vol. 91(3), pages 542-558, June.
    2. Benny Moldovanu & Aner Sela & Xianwen Shi, 2012. "Carrots And Sticks: Prizes And Punishments In Contests," Economic Inquiry, Western Economic Association International, vol. 50(2), pages 453-462, April.
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    4. Kai Konrad & Wolfgang Leininger, 2007. "The generalized Stackelberg equilibrium of the all-pay auction with complete information," Review of Economic Design, Springer;Society for Economic Design, vol. 11(2), pages 165-174, September.
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    11. PARREIRAS, Sérgio O. & RUBINCHIK-PESSACH, Anna, 2006. "Contests with heterogeneous agents," CORE Discussion Papers 2006004, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
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    Citations

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    Cited by:

    1. Nava Kahana & Doron Klunover, 2017. "Sequential Lottery Contests with Multiple Participants," Working Papers tax-mpg-rps-2017-02, Max Planck Institute for Tax Law and Public Finance.
    2. repec:eee:ecolet:v:175:y:2019:i:c:p:9-11 is not listed on IDEAS
    3. Minchuk, Yizhaq & Sela, Aner, 2015. "Asymmetric Sequential Search under Incomplete Information," CEPR Discussion Papers 10579, C.E.P.R. Discussion Papers.
    4. repec:kap:expeco:v:20:y:2017:i:3:d:10.1007_s10683-016-9504-1 is not listed on IDEAS
    5. Yizhaq Minchuk & Aner Sela, 2015. "Asymmetric Sequential Search under Incomplete Information," Working Papers 1510, Ben-Gurion University of the Negev, Department of Economics.
    6. Jinhyuk Lee & Jaeok Park, 2016. "Second-price auctions with sequential and costly participation," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 62(3), pages 567-586, August.
    7. Serena, Marco, 2017. "Quality contests," European Journal of Political Economy, Elsevier, vol. 46(C), pages 15-25.

    More about this item

    Keywords

    Sequential contests; All-pay auctions;

    JEL classification:

    • D44 - Microeconomics - - Market Structure, Pricing, and Design - - - Auctions

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