Konrad, Kai A.
Bidding in hierarchies.
WZB Discussion Paper, 2003,27
Volltext auf 'Open Access LMU' nicht verfügbar.
This paper reconsiders the comparison between hierarchical contests and single-stage contests. A condition is given that characterizes whether and when the aggregate equilibrium payoff of contestants is higher in the single-stage contest, and when the single-stage contest is more likely to award the prize to the contestant who values it most highly. The outcome depends on inter- and intra-group heterogeneity, and is not driven by free-rider incentives.
Alle Versionen dieses Dokumentes
Bidding in hierarchies. (deposited 30. Mrz. 2015 10:41)