Symmetric Equilibria in a Cost-Averting War of Attrition Requiring Minimum Necessary Conceders

摘要

This paper provides an analysis of a cost-averting war of attrition with minimum necessary conceders. Allrnsymmetric stationary Nash equilibria are characterized. The multiplicity of equilibria has called for furtherrnrefinements. We show that there exists a unique symmetric stationary trembling hand perfect equilibrium.rnComparative statics results of the trembling hand perfect equilibrium are provided. This paper’s model is motivatedrnby the problem of delayed public goods provisions in collective action settings. Augmenting the numberrnof minimum necessary conceders can curtail delays.