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Multi-stage sequential all-pay auctions |
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| Institution: | 1. School of Management and Economics, CUHK Business School, Shenzhen Finance Institute, The Chinese University of Hong Kong, Shenzhen, China;2. Department of Economics, National University of Singapore 117570, Singapore |
| Abstract: | 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? expected highest effort. |
| Keywords: | Sequential contests All-pay auctions |
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