An N-person war of attrition with the possibility of a non-compromising type

Shinsuke Kambe

Theoretical Economics, 2019, vol. 14, issue 3

Abstract: This paper studies an N-person war of attrition which needs one exit for its ending. An N-person war of attrition is qualitatively different from its two-person version. Only in the former, the set of players who are actively engaged in a war of attrition may change over time. We introduce the possibility of a non-compromising type and characterize the unique equilibrium by identifying which players are actively involved in a war of attrition at each moment. We examine who is likely to exit and when the war of attrition ends quickly. As the leading example, we study how a group selects a volunteer in a dynamic setting.

Keywords: War of attrition; unique equilibrium (search for similar items in EconPapers)
JEL-codes: C78 D71 (search for similar items in EconPapers)
Date: 2019-08-02
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Citations: View citations in EconPapers (4)

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