The effects of risk preferences in mixed-strategy equilibria of 2×2 games
نویسندگان
چکیده
We consider the effects of risk preferences in mixed-strategy equilibria of 2 × 2 games, provided such equilibria exist. We identify sufficient conditions under which the expected payoff in the mixed equilibrium increases or decreases with the degree of risk aversion. We find that (at least moderate degrees of) risk aversion will frequently be beneficial in mixed equilibria. © 2007 Elsevier Inc. All rights reserved. JEL classification: C72; D89
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ورودعنوان ژورنال:
- Games and Economic Behavior
دوره 60 شماره
صفحات -
تاریخ انتشار 2007