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Continuous-Time Games of Timing

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Author Info

  • Nicolas, VIEILLE

    ()

  • Rida, LARAKI

    ()
    (Laboratoire d'Econométrie de l'Ecole Polytechnique)

  • Eilon, SOLAN

    ()
    (Kellog School of Management)

Abstract

We address the question of existence of equilibrium in general timing games of complete information. Under weak assumptions, any two-player timing game has a subgame perfect e-equilibrium, for each e > 0. This result is tight. For some classes of games (symmetric games, games with cumulative payoffs), stronger existence results are established.

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File URL: http://www.hec.fr/var/fre/storage/original/application/1c80f631eb24b840f3a3d69d180a0cbf.pdf
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Bibliographic Info

Paper provided by HEC Paris in its series Les Cahiers de Recherche with number 773.

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Length: 36 pages
Date of creation: 03 Jan 2003
Date of revision:
Handle: RePEc:ebg:heccah:0773

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Postal: HEC Paris, 78351 Jouy-en-Josas cedex, France
Web page: http://www.hec.fr/
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Related research

Keywords: Timing games; war of attrition; preemption games; subgame perfect equilibrium;

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References

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  1. Drew Fudenberg & David K. Levine, 1986. "Limit Games and Limit Equilibria," Levine's Working Paper Archive 220, David K. Levine.
  2. Bergin, James & MacLeod, W Bentley, 1993. "Continuous Time Repeated Games," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 34(1), pages 21-37, February.
  3. Fudenberg, Drew & Tirole, Jean, 1985. "Preemption and Rent Equilization in the Adoption of New Technology," Review of Economic Studies, Wiley Blackwell, vol. 52(3), pages 383-401, July.
  4. Paul Klemperer & Jeremy Bulow, 1999. "The Generalized War of Attrition," American Economic Review, American Economic Association, vol. 89(1), pages 175-189, March.
  5. VIEILLE, Nicolas & SOLAN, Eilon, 2001. "Stopping games: recent results," Les Cahiers de Recherche 744, HEC Paris.
  6. BERGIN, James, 1990. "A model of strategic behaviour in repeated games," CORE Discussion Papers 1990032, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  7. Marc Bilodeau & Al Slivinski, . "Toilet Cleaning and Department Chairing: Volunteering a Public service," Public Economics 9405001, EconWPA.
  8. 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 663-80, November.
  9. Fine, Charles H. & Li, Lode, 1989. "Equilibrium exit in stochastically declining industries," Games and Economic Behavior, Elsevier, vol. 1(1), pages 40-59, March.
  10. Simon, Leo K. & Stinchcombe, Maxwell B., 1987. "Extensive From Games in Continuous Time: Pure Strategies," Department of Economics, Working Paper Series qt03x115sh, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
  11. Maskin, Eric & Tirole, Jean, 2001. "Markov Perfect Equilibrium: I. Observable Actions," Journal of Economic Theory, Elsevier, vol. 100(2), pages 191-219, October.
  12. Perry Motty & Reny Philip J., 1993. "A Non-cooperative Bargaining Model with Strategically Timed Offers," Journal of Economic Theory, Elsevier, vol. 59(1), pages 50-77, February.
  13. Stinchcombe, Maxwell B., 1992. "Maximal strategy sets for continuous-time game theory," Journal of Economic Theory, Elsevier, vol. 56(2), pages 235-265, April.
  14. J. Maynard Smith, 2010. "The Theory of Games and Evolution of Animal Conflicts," Levine's Working Paper Archive 448, David K. Levine.
  15. Myerson, Roger B, 1986. "Multistage Games with Communication," Econometrica, Econometric Society, vol. 54(2), pages 323-58, March.
  16. Philip J. Reny, 1999. "On the Existence of Pure and Mixed Strategy Nash Equilibria in Discontinuous Games," Econometrica, Econometric Society, vol. 67(5), pages 1029-1056, September.
  17. Fudenberg, Drew & Tirole, Jean, 1986. "A Theory of Exit in Duopoly," Econometrica, Econometric Society, vol. 54(4), pages 943-60, July.
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Citations

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Cited by:
  1. Aureo de Paula, 2004. "Social Interactions in a Synchronization Game," Econometric Society 2004 Latin American Meetings 277, Econometric Society.
  2. repec:hal:journl:halshs-00717135 is not listed on IDEAS
  3. Park, Andreas & Smith, Lones, 2008. "Caller Number Five and related timing games," Theoretical Economics, Econometric Society, vol. 3(2), June.
  4. Gonzalez-Diaz, J. & Borm, P.E.M. & Norde, H.W., 2004. "A Silent Battle over a Cake," Discussion Paper 2004-119, Tilburg University, Center for Economic Research.
  5. repec:hal:wpaper:hal-00846143 is not listed on IDEAS
  6. repec:hal:cesptp:hal-00846143 is not listed on IDEAS
  7. Bobtcheff, Catherine & Mariotti, Thomas, 2012. "Potential competition in preemption games," Games and Economic Behavior, Elsevier, vol. 75(1), pages 53-66.
  8. Wilko Bolt & Kimmo Soram�ki, 2008. "Competition, bargaining power and pricing in two-sided markets," DNB Working Papers 181, Netherlands Central Bank, Research Department.
  9. Rida Laraki & Eilon Solan, 2012. "Equilibrium in Two-Player Nonzero-Sum Dynkin Games in Continuous Time," Working Papers hal-00753508, HAL.
  10. Michael Ludkovski, 2010. "Stochastic Switching Games and Duopolistic Competition in Emissions Markets," Papers 1001.3455, arXiv.org, revised Aug 2010.
  11. Azevedo, Alcino & Paxson, Dean, 2014. "Developing real option game models," European Journal of Operational Research, Elsevier, vol. 237(3), pages 909-920.
  12. Philippe Bich & Rida Laraki, 2012. "A Unified Approach to Equilibrium Existence in Discontinuous Strategic Games," Documents de travail du Centre d'Economie de la Sorbonne 12040, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
  13. Philippe Bich & Rida Laraki, 2012. "A Unified Approach to Equilibrium Existence in Discontinuous Strategic Games," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00717135, HAL.

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