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arXiv · 1802.04669

Optimal Sequential Contests

Toomas Hinnosaar
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Abstract

I study sequential contests where the efforts of earlier players may be disclosed to later players by nature or by design. The model has a range of applications, including rent seeking, R&D, oligopoly, public goods provision, and tragedy of the commons. I show that information about other players' efforts increases the total effort. Thus, the total effort is maximized with full transparency and minimized with no transparency. I also show that in addition to the first-mover advantage, there is an earlier-mover advantage. Finally, I derive the limits for large contests.

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Toomas Hinnosaar. 2018-02-13. Optimal Sequential Contests. https://arxiv.org/abs/1802.04669

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