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Risk attitudes and risk dominance in the long run


Nax, Heinrich H; Newton, Jonathan (2019). Risk attitudes and risk dominance in the long run. Games and Economic Behavior, 116:179-184.

Abstract

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.

Abstract

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.

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Additional indexing

Item Type:Journal Article, refereed, original work
Communities & Collections:06 Faculty of Arts > Institute of Sociology
Dewey Decimal Classification:300 Social sciences, sociology & anthropology
Scopus Subject Areas:Social Sciences & Humanities > Finance
Social Sciences & Humanities > Economics and Econometrics
Uncontrolled Keywords:Evolution, Conventions, Risk attitudes, Loss aversion, Concave utility, State dependence
Language:English
Date:9 May 2019
Deposited On:11 Nov 2020 18:01
Last Modified:12 Nov 2020 21:01
Publisher:Elsevier
ISSN:0899-8256
OA Status:Hybrid
Publisher DOI:https://doi.org/10.1016/j.geb.2019.05.001
Project Information:
  • : FunderFP7
  • : Grant ID324247
  • : Project TitleMOMENTUM - Modeling the Emergence of Social Complexity and Order: How Individual and Societal Complexity Co-Evolve

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