The effects of risk preferences in mixed-strategy equilibria of 2 x 2 games

• 成果类型: Article
• 署名作者: Engelmann, Dirk; Steiner, Jakub
• 署名单位: University of London; Royal Holloway University London; University of Edinburgh
• 刊物名称: GAMES AND ECONOMIC BEHAVIOR
• ISSN/ISSBN: 0899-8256
• DOI: 10.1016/j.geb.2006.10.012
• 发表日期: 2007
• 页码: 381-388
• 关键词: Risk preferences; mixed-strategy equilibria

摘要

We consider the effects of risk preferences in mixed-strategy equilibria of 2 x 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. (c) 2007 Elsevier Inc. All rights reserved.