We characterize perfect public equilibrium payoffs in dynamic stochastic games, in the case where the length of the period shrinks, but players' rate of time discounting and the transition rate between states remain fixed. We present a meaningful definition of the feasible and individually...

By relating strike outcomes and durations to the value of the disputed wage change and to the cost to each side of continuing the strike, this paper tests the hypothesis that the war of attrition with asymmetric information model of strikes accurately describes the characteristics of strikes...

We study a repeated principal-agent model with transferable utility, where the principal's evaluation of the agent's performance is subjective. Our focus is on equilibria which are robust to the addition of small privately observed shocks to the payoffs. Existing constructions of positive-effort...