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Two-Stage Elimination Contests with Endogenous Continuation Values: An Analytical Solution

Author

Listed:
  • Stracke, Rudi

    ()

  • Kerschbamer, Rudolf

    ()

  • Sunde, Uwe

    ()

Abstract

This paper analyzes a two-stage pairwise elimination contest with heterogeneous agents. It derives analytical expressions for equilibrium efforts in a setting where the two simultaneous stage-1 interactions are linked through endogenously determined continuation values.

Suggested Citation

  • Stracke, Rudi & Kerschbamer, Rudolf & Sunde, Uwe, 2012. "Two-Stage Elimination Contests with Endogenous Continuation Values: An Analytical Solution," Economics Working Paper Series 1220, University of St. Gallen, School of Economics and Political Science.
  • Handle: RePEc:usg:econwp:2012:20
    as

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    File URL: http://ux-tauri.unisg.ch/RePEc/usg/econwp/EWP-1220.pdf
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    References listed on IDEAS

    as
    1. Richard Cornes & Roger Hartley, 2005. "Asymmetric contests with general technologies," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 26(4), pages 923-946, November.
    2. Jennifer Brown & Dylan B. Minor, 2011. "Selecting the Best? Spillover and Shadows in Elimination Tournaments," NBER Working Papers 17639, National Bureau of Economic Research, Inc.
    3. Rick Harbaugh & Tilman Klumpp, 2005. "Early Round Upsets and Championship Blowouts," Economic Inquiry, Western Economic Association International, vol. 43(2), pages 316-329, April.
    4. Christian Groh & Benny Moldovanu & Aner Sela & Uwe Sunde, 2012. "Optimal seedings in elimination tournaments," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 49(1), pages 59-80, January.
    5. Rosen, Sherwin, 1986. "Prizes and Incentives in Elimination Tournaments," American Economic Review, American Economic Association, vol. 76(4), pages 701-715, September.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Multi-Stage Elimination Contest; Heterogeneity; Endogenous Continuation Value;

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
    • J33 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Compensation Packages; Payment Methods

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