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War of attrition (game)

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In game theory the War of attrition is a model of aggression in which two contestants compete for a resource of value V by persisting while accumulating costs at a constant rate c. The model was originally formulated by John Maynard Smith (1974). Strategically, the game is an auction, in which the prize goes to the player with the highest bid, and both players pay the loser's low bid.

The evolutionarily stable strategy when playing this game is a probability density of random persistence times which cannot be predicted by the opponent in any particular contest. This result has led to the prediction that threat displays ought not to evolve, and to the conclusion (e.g. in the The Illuminatus! Trilogy) that optimal military strategy is to behave in a completely unpredictable (ie insane) manner. Neither of these conclusions are truly reasonable applications of the model to realistic conditions.

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[ v]·[ d]·[ e]
Topics in game theory
Definitions Normal form game · Extensive form game · Cooperative game · Information set · Preference
Equilibrium concepts Nash equilibrium · Subgame perfection · Bayes-Nash · Trembling hand · Correlated equilibrium · Sequential equilibrium · Quasi-perfect equilibrium · Evolutionarily stable strategy
Strategies Dominant strategies · Mixed strategy · Grim trigger · Tit for Tat
Classes of games Symmetric game · Perfect information · Dynamic game · Repeated game · Signaling game · Cheap talk · Zero-sum game · Mechanism design
Games Prisoner's dilemma · Chicken · Stag hunt · Ultimatum game · Coordination game · Matching pennies · Minority game · Rock, Paper, Scissors · Pirate game · Dictator game
Theorems Minimax theorem · Purification theorems · Folk theorem · Revelation principle · Bishop-Cannings theorem
Related topics Mathematics · Economics · Behavioral economics · Evolutionary biology · Evolutionary game theory · Population genetics · Behavioral ecology · Adaptive dynamics · List of game theorists

 


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