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A non-zero-zum War of Attrition

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  • Victor Baston
  • Andrej Garnaev

Abstract

The division of a cake by two players is modelled by means of a game of timing in which the players have a probability of learning when their opponent acts. It is shown that the game has a unique Nash equilibrium when both players are non-noisy but that there are many Nash equilibria including pure ones when at least one of the players is noisy. Explicit expressions for the strategies used in these Nash equilibria are obtained. Copyright Physica-Verlag 1997

Suggested Citation

  • Victor Baston & Andrej Garnaev, 1997. "A non-zero-zum War of Attrition," Mathematical Methods of Operations Research, Springer;Gesellschaft für Operations Research (GOR);Nederlands Genootschap voor Besliskunde (NGB), vol. 45(2), pages 197-211, June.
    • Handle: RePEc:spr:mathme:v:45:y:1997:i:2:p:197-211
    DOI: 10.1007/BF01193860
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    References listed on IDEAS

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    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.
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