The Generalized War of Attrition

An Analysis of the War of Attrition and the All-Pay Auction

We study the war of attrition and the all-pay auction when players’ signals are affiliated and symmetrically distributed. We (a) find sufficient conditions for the existence of symmetric monotonic equilibrium bidding strategies; and (b) examine the performance of these auction forms in terms of the expected revenue accruing to the seller. Under our conditions the war of attrition raises greater...

Timing Models with Both Explosive and Timed Entry: Endogenous Herding and The Rush Hour

There is a vast collection of scenarios where people have to time a decision optimally vis-a-vis the decision of other, examples include market entry and exit, corporate restructuring, mergers and acquisitions and so on. In economics these strategic decisions are typically studied with timing games, either tailoring the question to fit a War of Attrition(having more predecessors helps), or to a...

An Analysis of the War of Attrition and the All-Play Auction

We study the war of attrition and the all-pay auction when players' signals are affiliated and symmetrically distributed. We (a) find sufficient conditions for the existence of symmetric monotonic equilibrium bidding strategies and (b) examine the performance of these auction forms in terms of the expected revenue accruing to the seller. Under our conditions the war of attrition raises greater ...

Bargaining and the Nature of War

A model of bargaining embedded within a random-walk model of warfare is developed. The conflict model contains aspects of both lottery-based and war-of-attrition models of conflict. Results show that future disputes are less likely to lead to armed conflict following long rather than short wars. Furthermore, should a subsequent dispute lead to armed conflict, the higher the cost and the longer ...

The Attrition Dynamics of Multilateral War