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Multi-player contests with asymmetric information
Journal article   Peer reviewed

Multi-player contests with asymmetric information

Karl Wärneryd
Economic Theory, Vol.51, pp.277-287
2012-10

Abstract

Contests All-pay auctions Asymmetric information
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.

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