To be announced

Résumé

Alice and Bob can try to grab a one-dollar bill once the referee has whistled. The first one to grab it gets the bill. However, in the case of simultaneous first grabs, both are fined one dollar instead. What can game theory tell us about this? This apparently simple problem — dating back to Fudenberg and Tirole (1985) — has a wide range of applications in economics and raises fundamental questions in game theory, concerning rational choice under uncertainty, subgame-perfect equilibrium, and continuous-time stochastic control. In this talk, I'll present a language for comparing these concepts — their use and meaning — both from an abstract point of view and, specifically, in the grab-the-dollar game.