Instant Exit from the War of Attrition.

Working paper

This paper takes a new look at the classic concession game. It argues that exit from an asymmetric war of attrition is likely to be instant. Selecting a unique equilibrium using a "craziness" pertubation device, it finds a notion of stochastic strength determines the outcome, with a stochastically weaker player giving up immediately.

Authors: Myatt, D

• Publisher: Nuffield College (University of Oxford)
• Host title: Economics Group, Nuffield College, University of Oxford, Economics Papers
• Series: Economics Series Working Papers
• Publication date: 1999-01-01
• Language: English