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Optimal Stealing Time

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  • Andrea Gallice

Abstract

We study a dynamic game in which players can steal parts of a homogeneous and perfectly divisible pie from each other. The e¤ectiveness of a player?s theft is a random function which is stochastically increasing in the share of the pie the agent currently owns. We show how the incentives to preempt or to follow the rivals change with the number of players involved in the game and investigate the conditions that lead to the occurrence of symmetric or asymmetric equilibria.

Suggested Citation

  • Andrea Gallice, 2013. "Optimal Stealing Time," Carlo Alberto Notebooks 328, Collegio Carlo Alberto, revised 2015.
    • Handle: RePEc:cca:wpaper:328
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    stealing; stochastic games; optimal timing; pie allocation.;
    All these keywords.

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution

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