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

Author

Listed:
  • Kambe, Shinsuke

    (Department of Economics, Gakushuin University)

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.

Suggested Citation

  • Kambe, Shinsuke, 2019. "An N-person war of attrition with the possibility of a non-compromising type," Theoretical Economics, Econometric Society, vol. 14(3), July.
    • Handle: RePEc:the:publsh:3158
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    References listed on IDEAS

    as
    1. Hendricks, Ken & Weiss, Andrew & Wilson, Charles A, 1988. "The War of Attrition in Continuous Time with Complete Information," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 29(4), pages 663-680, November.
    2. Bliss, Christopher & Nalebuff, Barry, 1984. "Dragon-slaying and ballroom dancing: The private supply of a public good," Journal of Public Economics, Elsevier, vol. 25(1-2), pages 1-12, November.
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    Cited by:

    1. Betto, Maria & Thomas, Matthew W., 2024. "Asymmetric all-pay auctions with spillovers," Theoretical Economics, Econometric Society, vol. 19(1), January.
    2. Ma, Zizhen, 2023. "Efficiency and surplus distribution in majoritarian reputational bargaining," Journal of Economic Theory, Elsevier, vol. 210(C).
    3. Li, Hongcheng, 2019. "Multi-Player War of Attrition with Asymmetric Incomplete Information," MPRA Paper 109511, University Library of Munich, Germany, revised 31 Aug 2021.

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    More about this item

    Keywords

    War of attrition; unique equilibrium;

    JEL classification:

    • D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations
    • C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory

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