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Sequential Contests With Synergy And Budget Constraints

  • Aner Sela

    ()

    (BGU)

  • Reut Megidish

    (BGU)

Registered author(s):

    We study a sequential Tullock contest with two stages and two identical prizes. The players compete for one prize in each stage and each player may win either one or two prizes. The players have either decreasing or increasing marginal values for the prizes, which are commonly known, and there is a con- straint on the total effort that each player can exert in both stages. We analyze the players' allocations of efforts along both stages when the budget constraints (effort constraints) are either restrictive, non- restrictive or partially restrictive. In particular, we show that when the players are either symmetric or asymmetric and the budget constraints are restrictive, independent of the players'values for the prizes, each player allocates his effort equally along both stages of the contest.

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    File URL: http://in.bgu.ac.il/en/humsos/Econ/Working/1212.pdf
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    Paper provided by Ben-Gurion University of the Negev, Department of Economics in its series Working Papers with number 1212.

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    Length: 29 pages
    Date of creation: 2012
    Date of revision:
    Handle: RePEc:bgu:wpaper:1212
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    Web page: http://www.bgu.ac.il/econ

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    1. Konrad, Kai A., 2003. "Bidding in hierarchies
      [Das Bieten in Hierarchien]
      ," Discussion Papers, Research Unit: Market Processes and Governance SP II 2003-27, Social Science Research Center Berlin (WZB).
    2. Pitchik, Carolyn & Schotter, Andrew, 1986. "Perfect Equilibria in Budget Constrained Sequential Auctions: An Experimental Study," Working Papers 86-22, C.V. Starr Center for Applied Economics, New York University.
    3. Gavious, Arieh & Moldovanu, Benny & Sela, Aner, 2000. "Bid Costs and Endogenous Bid Caps," Sonderforschungsbereich 504 Publications 01-19, Sonderforschungsbereich 504, Universität Mannheim;Sonderforschungsbereich 504, University of Mannheim.
    4. Sandro Brusco & Giuseppe Lopomo, 2009. "Simultaneous ascending auctions with complementarities and known budget constraints," Economic Theory, Springer, vol. 38(1), pages 105-124, January.
    5. Yeon-Koo Che & Ian Gale, 1998. "Caps on Political Lobbying," Microeconomics 9809003, EconWPA.
    6. Rick Harbaugh & Tilman Klumpp, 2004. "Early Round Upsets and Championship Blowouts," Working Papers 2004-09, Indiana University, Kelley School of Business, Department of Business Economics and Public Policy.
    7. Kovenock, Dan & Roberson, Brian, 2008. "Is the 50-state strategy optimal?
      [Ist die 50-Staaten-Strategie optimal?]
      ," Discussion Papers, Research Unit: Market Processes and Governance SP II 2008-16, Social Science Research Center Berlin (WZB).
    8. Warneryd, Karl, 1998. "Distributional conflict and jurisdictional organization," Journal of Public Economics, Elsevier, vol. 69(3), pages 435-450, September.
    9. Carolyn Pitchik, 2006. "Budget-Constrained Sequential Auctions with Incomplete Information," Working Papers tecipa-230, University of Toronto, Department of Economics.
    10. Klumpp, Tilman & Polborn, Mattias K., 2006. "Primaries and the New Hampshire Effect," Journal of Public Economics, Elsevier, vol. 90(6-7), pages 1073-1114, August.
    11. Sandro Brusco & Giuseppe Lopomo, 2008. "BUDGET CONSTRAINTS AND DEMAND REDUCTION IN SIMULTANEOUS ASCENDING-BID AUCTIONS -super-," Journal of Industrial Economics, Wiley Blackwell, vol. 56(1), pages 113-142, 03.
    12. repec:pit:wpaper:205 is not listed on IDEAS
    13. J. Atsu Amegashie & C. Bram Cadsby & Yang Song, 2005. "Competitive Burnout: Theory and Experimental Evidence," Working Papers 0507, University of Guelph, Department of Economics and Finance.
    14. Alex Robson, 2005. "Multi-Item Contests," ANU Working Papers in Economics and Econometrics 2005-446, Australian National University, College of Business and Economics, School of Economics.
    15. Che, Yeon-Koo & Gale, Ian, 1997. "Rent Dissipation When Rent Seekers Are Budget Constrained," Public Choice, Springer, vol. 92(1-2), pages 109-26, July.
    16. Morgan, John, 2003. "Sequential Contests," Public Choice, Springer, vol. 116(1-2), pages 1-18, July.
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