War Of Attrition (game)
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 constantly accumulating costs over the time t that the contest lasts. The model was originally formulated by John Maynard Smith, a mixed evolutionarily stable strategy (ESS) was determined by Bishop & Cannings. Strategically, the game is an auction, in which the prize goes to the player with the highest bid, and each player pays the loser's low bid (making it an all-pay sealed-bid second-price auction).
Read more about War Of Attrition (game): Examining The Game, Dynamic Formulation and Evolutionarily Stable Strategy, The ESS in Popular Culture, Conclusions, See Also
Famous quotes containing the word war:
“Soldier, there is a war between the mind
And sky, between thought and day and night. It is
For that the poet is always in the sun,
Patches the moon together in his room
To his Virgilian cadences, up down,
Up down. It is a war that never ends.”
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