Scandinavian Working Papers in Economics

SSE/EFI Working Paper Series in Economics and Finance,
Stockholm School of Economics

No 388: Information in Conflicts

Karl Wärneryd ()
Additional contact information
Karl Wärneryd: Dept. of Economics, Stockholm School of Economics, Postal: P.O. Box 6501, S-113 83 Stockholm, Sweden

Abstract: We consider a two-player contest for a prize of common but uncertain value. We show that less resources are spent in equilibrium if one party is privately informed about the value of the prize than if either both agents are informed or neither agent is informed. Furthermore, the uninformed agent is ex ante strictly more likely to win the prize than is the informed agent.

Keywords: Conflict; contest; asymmetric information; all-pay auction.

JEL-codes: C72; D44; D72; D82

17 pages, June 19, 2000

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Published as
Karl Wärneryd, (2003), 'Information in Conflicts', Journal of Economic Theory, vol 110, pages 121-136

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