Template-Type: ReDIF-Paper 1.0
Title: Instant Exit from the War of Attrition.
Author-Name: Myatt, D.P.
Keywords: GAME THEORY
Length: 17 pages
Abstract: 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.
Classification-JEL: C70
Creation-Date: 1999
Handle: RePEc:nuf:econwp:9922