Multi-player contests with asymmetric information

Karl Wärneryd

Economic Theory, 2012, vol. 51, issue 2, 277-287

Abstract: We consider imperfectly discriminating, common-value, all-pay auctions (or contests) in which some players know the value of the prize, others do not. We show that if the prize is always of positive value, then all players are active in equilibrium. If the prize is of value zero with positive probability, then there is some threshold number of informed players such that if there are less, all uninformed players are active, and otherwise all uninformed players are inactive. Copyright Springer-Verlag 2012

Keywords: Contests; All-pay auctions; Asymmetric information; C72; D44; D72; D82; K41 (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (21)

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DOI: 10.1007/s00199-009-0472-y

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