Residential College | false |
Status | 已發表Published |
Contests with Sequential Entry and Incomplete Information | |
Deng, Shanglyu1; Fu, Qiang2; Wu, Zenan3; Zhu, Yuxuan3 | |
2024-05 | |
Source Publication | Theoretical Economics |
ABS Journal Level | 4 |
ISSN | 1933-6837 |
Volume | 19Issue:2Pages:705-742 |
Abstract | This paper provides a general study of a contest modeled as a multiplayer incomplete-information, all-pay auction with sequential entry. The contest consists of multiple periods. Players arrive and exert efforts sequentially to compete for a prize. They observe the efforts made by their earlier opponents, but not those of their contemporaneous or future rivals. We establish the existence and uniqueness of a symmetric perfect Bayesian equilibrium (PBE) and fully characterize the equilibrium. Based on the equilibrium result, we show that a later mover always secures a larger ex ante expected payoff. Further, we endogenize the timing of moves and show that all players choose to move in the last period in the unique equilibrium that survives iterated elimination of strictly dominated strategies (IESDS). |
Keyword | All-pay Auction C72 Contest With Sequential Entry D43 D44 D82 Endogenous Timing L13 Later-mover Advantage |
DOI | 10.3982/TE5367 |
URL | View the original |
Indexed By | SSCI |
Language | 英語English |
WOS Research Area | Business & Economics |
WOS Subject | Economics |
WOS ID | WOS:001229150200001 |
Publisher | ECONOMETRIC SOCIETY, NEW YORK UNIV, DEPT ECONOMICS, 19 W 4 ST, NEW YORK, NY 10012 |
Scopus ID | 2-s2.0-85193564996 |
Fulltext Access | |
Citation statistics | |
Document Type | Journal article |
Collection | Faculty of Social Sciences DEPARTMENT OF ECONOMICS |
Corresponding Author | Wu, Zenan |
Affiliation | 1.Department of Economics, University of Macau, Macao 2.Department of Strategy and Policy, National University of Singapore, Singapore 3.School of Economics, Peking University, China |
First Author Affilication | University of Macau |
Recommended Citation GB/T 7714 | Deng, Shanglyu,Fu, Qiang,Wu, Zenan,et al. Contests with Sequential Entry and Incomplete Information[J]. Theoretical Economics, 2024, 19(2), 705-742. |
APA | Deng, Shanglyu., Fu, Qiang., Wu, Zenan., & Zhu, Yuxuan (2024). Contests with Sequential Entry and Incomplete Information. Theoretical Economics, 19(2), 705-742. |
MLA | Deng, Shanglyu,et al."Contests with Sequential Entry and Incomplete Information".Theoretical Economics 19.2(2024):705-742. |
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5367-37130-1-FC.pdf(1432KB) | 期刊论文 | 作者接受稿 | 开放获取 | CC BY-NC-SA | View Download |
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