Contests â€“ A comparison of timing and information structures
We 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 contestantsâ€™ 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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