A Competitive Optimal Stopping Game

Whitmeyer Mark ()
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Whitmeyer Mark: Department of Economics, University of Texas at Austin, Austin, USA

The B.E. Journal of Theoretical Economics, 2018, vol. 18, issue 1, 15

Abstract: This paper explores a multi-player game of optimal stopping over a finite time horizon. A player wins by retaining a higher value than her competitors do, from a series of independent draws. In our game, a cutoff strategy is optimal, we derive its form, and we show that there is a unique Bayesian Nash Equilibrium in symmetric cutoff strategies. We establish results concerning the cutoff value in its limit and expose techniques, in particular, use of the Budan-Fourier Theorem, that may be useful in other similar problems.

Keywords: optimal stopping; game theory; search; secretary problem; algebraic geometry; polynomial sequences (search for similar items in EconPapers)
JEL-codes: C61 C65 C72 C73 D83 (search for similar items in EconPapers)
Date: 2018
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DOI: 10.1515/bejte-2016-0128

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