CAPS IN SEQUENTIAL CONTESTS

Reut Megidish and Aner Sela

Economic Inquiry, 2014, vol. 52, issue 2, 608-617

Abstract: type="main" xml:lang="en">

We study a sequential two-stage all-pay auction with two identical prizes. In each stage, the players compete for one prize and each player can win either one or two prizes. The designer may impose a cap on the players' bids in each of the stages. We analyze the equilibrium in this sequential all-pay auction with bid caps and show that capping the players' bids is profitable for a designer who wishes to maximize the players' expected total bid. (JEL D44, D82, J31, J41)

Date: 2014
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Related works:
Working Paper: CAPS IN SEQUENTIAL CONTESTS (2010)
Working Paper: Caps in Sequential Contests (2010)
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