Eggert, Wolfgang; Itaya, Jun-ichi; Mino, Kazuo - Institute of Economic Research, Kyoto University - 2010
This paper conducts the analysis of conflict and appropriation by extending the static contest models such as Hirshleifer (1991, 1995) and Skaperdas (1992) to a continuoustime, differential game setting. This paper shows that there is a unique Markov perfect equilibrium (MPE) strategy, which may...