THE SLIPPERY SLOPE OF CONCESSION

Jack Hirshleifer, Michele Boldrin and David Levine

Economic Inquiry, 2009, vol. 47, issue 2, 197-205

Abstract: We show that with common knowledge and a common rate of time preference, the potential loser can always avoid wasteful conflict through a time‐consistent series of small concessions. We examine how the failure of each of these assumptions may explain why conflicts arise. We also debate which actions may be helpful in such unfortunate circumstances.

Date: 2009
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https://doi.org/10.1111/j.1465-7295.2008.00154.x

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Working Paper: The Slippery Slope of Concession (2007)
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