Optimism and pessimism in games
This paper considers the impact of ambiguity in strategic situations. It extends the earlier literature by allowing for optimistic responses to ambiguity. Ambiguity is modelled by CEU preferences. We propose a new solution concept for players who may express ambiguity-preference. Then we study compa...
Gespeichert in:
| Hauptverfasser: | , |
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| Dokumenttyp: | Book/Monograph Arbeitspapier |
| Sprache: | Englisch |
| Veröffentlicht: |
Exeter
Univ. of Exeter, School of Business and Economics
2009
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| Schriftenreihe: | Discussion papers in economics / University of Exeter, School of Business and Economics
09/05 |
| In: |
Department of Economics discussion papers (09/05)
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| Schlagworte: | |
| Online-Zugang: | Verlag, Volltext: http://business-school.exeter.ac.uk/economics/papers/2009/Econ_0905.pdf
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| Verfasserangaben: | Jürgen Eichberger and David Kelsey |
| Zusammenfassung: | This paper considers the impact of ambiguity in strategic situations. It extends the earlier literature by allowing for optimistic responses to ambiguity. Ambiguity is modelled by CEU preferences. We propose a new solution concept for players who may express ambiguity-preference. Then we study comparative statics of changes in ambiguity-attitude in games with strategic complements. This gives a precise statement of the impact of ambiguity on economic behaviour. |
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| Beschreibung: | Online Resource |
| Dokumenttyp: | Systemvoraussetzungen: Acrobat Reader. |