One-Sided Games in a War of Attrition

Yasushi Asako ()

The B.E. Journal of Theoretical Economics, 2015, vol. 15, issue 2, 313-331

Abstract: This study develops a war-of-attrition model with the asymmetric feature that one player can be defeated by the other but not vice versa; that is, only one player has an exogenous probability of being forced to capitulate. With complete information, the equilibria are almost identical to the canonical war-of-attrition model. On the other hand, with incomplete information on a player’s robustness, a war where both players fight for some duration emerges. Moreover, a player who is never defeated may capitulate in equilibrium, and this player will give in earlier if the other player’s fighting costs are greater.

Keywords: war; attrition; Bayesian learning; asymmetric robustness (search for similar items in EconPapers)
JEL-codes: C72 D82 D83 (search for similar items in EconPapers)
Date: 2015
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DOI: 10.1515/bejte-2014-0078

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