Continuous-Time Games of Timing

R. Laraki, E. Solan, N. VIEILLE

Journal of Economic Theory

February 2005, vol. 120, n°2, pp.206-238

Departments: Economics & Decision Sciences, GREGHEC (CNRS)

Keywords: Timing games, Continuous-time games, Games of timing, War of attrition, Preemption games

We address the question of existence of equilibrium in general timing games with complete information. Under weak assumptions, any two-player timing game has a Markov subgame perfect -equilibrium, for each >0. This result is tight. For some classes of games (symmetric games, games with cumulative payoffs), stronger existence results are established