Two-Stage Contests with Private Information

• 成果类型: Article
• 署名作者: Kubitz, Greg
• 署名单位: Queensland University of Technology (QUT)
• 刊物名称: AMERICAN ECONOMIC JOURNAL-MICROECONOMICS
• ISSN/ISSBN: 1945-7669
• DOI: 10.1257/mic.20200071
• 发表日期: 2023
• 页码: 239-287
• 关键词: Incentives; disclosure; auctions

摘要

In perfectly discriminating contests with private information , low-ability contestants prefer to appear strong, while high-ability contestants prefer to appear weak. In a two-stage contest , this leads to a unique symmetric equilibrium with partial pooling in the first stage. A higher output in the first contest leads to a weakly higher belief about the contestant's ability entering the second contest. We characterize this unique equilibrium when cost of effort is linear and show how the prize allocation and type distribution impact contes-tants' expected output , payoffs , and the probability of surprise victo-ries. (JEL D44, D82, D83)