ENDOGENOUS TIMING IN 2-PLAYER GAMES - A COUNTEREXAMPLE

This note relates to the study of Hamilton and Slutsky ((1990) Games E con. Behav. 2, 29-46) on endogenous timing (with observable delay). It shows, via counterexample, that monotonicity of the best-reponse func tions in a two-player game is not sufficient to derive predictions abo ut the order of moves. Rather, this requires, additionally, the monoto nicity of each payoff in the other player's actions. Journal of Econom ic Literature Classification Numbers: C72, L10. (C) 1995 Academic Pres s, Inc.