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Markov perfect equilibria in an n-player war of attrition

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Markov Perfect Equilibria in a N-Player War of Attrition

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A symmetric finite-player war of attrition is studied in discrete time using the notion of Markov perfect equilibria. Considering the limit of the discrete time model as the decision interval becomes arbitrarily small allows a simple characterization of the mixed strategy equilibrium.This is a...

Persistent link: https://www.econbiz.de/10013110267