When to Confront: The Role of Patience

被引：2
|
作者：
Sandroni, Alvaro [1 ]
Urgun, Can [2 ]
机构：
[1] Northwestern Univ, Kellogg Sch Management, Dept Managerial Econ & Decis Sci, 2211 Campus Dr, Evanston, IL 60208 USA
[2] Princeton Univ, Julis Romo Rabinowitz Bldg, Princeton, NJ 08544 USA
来源：
AMERICAN ECONOMIC JOURNAL-MICROECONOMICS | 2018年 / 10卷 / 03期
关键词：
STOPPING GAMES; WAR;
D O I：
10.1257/mic.20150309
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This paper examines the effects of patience on ordinary conflicts such as divorce, price wars, and commercial litigation. Players optimally decide when, if ever, to start a destructive confrontation. In the unique equilibrium, there is a tight connection between patience, aggressiveness, and strength. In particular, patience may lead to immediate confrontation (the most inefficient outcome). This inefficiency is caused by preemptive moves that deny option values to the opponent.
引用
收藏
页码：219 / 252
页数：34
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