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[U+05F3] expected highest effort.
|Number of pages||12|
|Journal||European Economic Review|
|State||Published - 1 Jan 2014|
- All-pay auctions
- Sequential contests
ASJC Scopus subject areas
- Economics and Econometrics