Best-of-three all-pay auctions |
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Authors: | Aner Sela |
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Institution: | Department of Economics, Ben-Gurion University of the Negev, Beer-Sheva 84105, Israel |
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Abstract: | We study a best-of-three all-pay auction. It is shown that with values of winning and without values of losing, this auction is less productive (the players’ total expected effort is smaller) than the one-stage all-pay auction. However, with different values of losing over the contest’s stages it may be more productive than the one-stage all-pay auction. |
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Keywords: | D44 D82 |
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