The Generalized War of Attrition.
We generalize the War of Attrition model to allow for N + K firms competing for N prizes. Two special cases are of particular interest. First, if firms continue to pay their full costs after dropping out (as in a standard-setting context), each firm's exit time is independent both of K and of t...
| Главные авторы: | , |
|---|---|
| Формат: | Working paper |
| Язык: | English |
| Опубликовано: |
Cowles Foundation
1996
|