The Economics of Dueling

The Deadliest of Games: The Institution of Dueling.

Recent historical research indicates that ritualistic dueling had a rational basis. Basically, under certain social and economic conditions, individuals must ght in order to maintain their personal credit and social standing. We use a repeated two-player sequential game with random matching to show how the institution of dueling could have functioned as a costly but incentive-compatible means by which individuals could demonstrate their good faith dealings by defending their "honor".