Kambe, Shinsuke - In: Theoretical economics : TE ; an open access journal in … 14 (2019) 3, pp. 849-886
This paper studies an N-person war of attrition which needs one exit for its ending. An N-person war of attrition is qualitatively different from its two-person version. Only in the former, the set of players who are actively engaged in a war of attrition may change over time. We introduce the...