The Exit, Voice and Loyalty game explains the difficulty in the U.S. automakers receiving a bailout following the financial crisis compared to the financial sector by stating that the automakers did not have a credible exit threat.

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The Exit, Voice and Loyalty game theory states that in situations where organizations or individuals have the option to exit a relationship, they are more likely to use voice to express their dissatisfaction, whereas in situations where exit is not a credible option, voice is ineffective. In the case of the U.S. automakers, they did not have a credible exit threat as they were dependent on the government and had limited options for seeking funding elsewhere, making it difficult for them to receive a bailout compared to the financial sector.

The Exit, Voice and Loyalty Game Explains the Difficulty in the U.S