Game of chicken and process speed

Game of chicken exists when two people are fighting against until one backs down otherwise both will be destroyed by the crash. In the modern world of politics and economics, games of chicken are played by countries, individuals and organizations; although they may have differentiated strength in the games they play, for example, they may face a less damaging consequence after the "crash". However, how fast the game is progressing can make a difference to the game result.

First, when individual people are playing the game against each other, this makes a lot of sense, because people's abilities are constrained to the time. When they have less time, they will not have sufficient time to receive information, process information and make decisions, therefore, they will not be very likely to deliver the same decision as if they have the sufficient time. Secondly, time will affect people's judgement, if the process is continuously generating a loss, then when the time period is longer, even if the total loss stays the same, since people are loss averse and can strengthen their feelings over time, they will feel more dissatisfied and angrier, they will change their strategies over time. This does not only happen to individuals, this can also happen to countries and organizations. Because countries have their citizens and organizations (companies) have their shareholders, they have the feelings and the power to change the strategy. Thirdly, in the real world, there are more than two strategies in the game. Often people are negotiating when they are playing the game of chicken, the purpose of playing the game of chicken is often to give themselves more advantages on the negotiation table. When they have more time, they are more likely to reach a mutually beneficial agreement, so they are more likely to be less aggressive when playing the game of chicken; however, if they only have a very limited time, they want to gain more from the negotiation, so they are more likely to play more aggressively in order to give them more advantages on the negotiation table, which makes the game more dangerous.