Sequential Contests Revisited

15 Pages Posted: 22 Mar 2017 Last revised: 21 Sep 2018

See all articles by Marco Serena

Marco Serena

Colegio Universitario de Estudios Financieros CUNEF

Date Written: June 19, 2017

Abstract

Morgan (Public Choice, 116:1-18, 2003) finds that the aggregate effort is greater in sequential than in simultaneous lottery contests. We show that Morgan's result is incorrect due to a slip in a proof, and that the aggregate effort is greater in sequential contests only if contestants are sufficiently homogeneous. Additionally, we discuss the robustness of the corrected result to different specifications of the contest success function, and we partially restore Morgan's case for sequential contests by showing that these contests are more desirable when maximizing only the effort of the winner, rather than maximizing the aggregate effort.

Keywords: Contest Design, Sequential Contests, Simultaneous Contests

JEL Classification: C72, D72

Suggested Citation

Serena, Marco, Sequential Contests Revisited (June 19, 2017). Available at SSRN: https://ssrn.com/abstract=2938412 or http://dx.doi.org/10.2139/ssrn.2938412

Marco Serena (Contact Author)

Colegio Universitario de Estudios Financieros CUNEF ( email )

Calle de Leonardo Prieto Castro, 2
Madrid, 28040
Spain

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