  We study a model in which two players with opposing interests try to alter a
status quo through instability-generating actions. We show that instability can
be used to secure longer-term durable changes, even if it is costly to generate
and does not generate short-term gains. In equilibrium, instability generated
by a player decreases when the status quo favors them more. Equilibrium always
exhibits a region of stable states in which the status quo persists. As
players' threat power increases, this region shrinks, ultimately collapsing to
a single stable state that is supported via a deterrence mechanism. There is
long-run path-dependency and inequity: although instability eventually leads to
a stable state, it typically selects the least favorable one for the initially
disadvantaged player.
