Einy, Ezra; Haimanko, Ori; Orzach, Ram; Sela, Aner - C.E.P.R. Discussion Papers - 2013
We study two-player common-value all-pay auctions (contests) with asymmetric information under the assumption that one … of the players has an information advantage over his opponent. We characterize the unique equilibrium in these contests …, and examine the role of information in determining the players' expected efforts, probabilities of winning, and expected …