Risk attitudes and risk dominance in the long run

• 成果类型: Article
• 署名作者: Nax, Heinrich H.; Newton, Jonathan
• 署名单位: Swiss Federal Institutes of Technology Domain; ETH Zurich; Universita Ca Foscari Venezia; Kyoto University
• 刊物名称: GAMES AND ECONOMIC BEHAVIOR
• ISSN/ISSBN: 0899-8256
• DOI: 10.1016/j.geb.2019.05.001
• 发表日期: 2019
• 页码: 179-184
• 关键词: evolution; conventions; risk attitudes; loss aversion; Concave utility; state dependence

摘要

This paper investigates the role that risk attitudes play in the evolution of conventions in the long run. Risk aversion is shown to be associated with the evolution of maximin conventions, and risk seeking with the evolution of payoff dominant conventions. (C) 2019 The Authors. Published by Elsevier Inc.