In this paper, we consider a sequence of multi-prize all-pay auctions, where low-performing players are eliminated along the way. We provide sufficient conditions such that equilibrium behavior is unaffected by the prospects of winning prizes in later rounds. When these conditions are not met, we identify a novel externality effect and derive equilibria in a model with two rounds. We compare our results to knockout tournaments in which players are partitioned into subcontests in each round.

中文翻译：

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你的失败就是我的机会——淘汰赛的影响

在本文中，我们考虑了一系列多奖全薪拍卖，在此过程中，表现不佳的玩家会被淘汰。我们提供了充分的条件，使得均衡行为不受在后面几轮中获胜的前景的影响。当这些条件不满足时，我们确定了一种新的外部效应，并在具有两轮的模型中推导出均衡。我们将我们的结果与淘汰赛进行比较，在淘汰赛中，玩家在每一轮中被分成子赛。