Publisher:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften, Leibniz-Informationszentrum Wirtschaft, Kiel, Hamburg
Abstract:
I examine sequential round-robin tournaments with three and four symmetric players which are matched once with each other. If the matches are organized as Tullock contests (all-pay auctions), the tournament is almost fair (highly discriminatory): Subject to the position of their matches in the sequence of the tournament, the differences in players’ ex ante winning probabilities and expected payoffs are small (large). Discrepancy results from a higher discriminating power of the all-pay auction.