Risk attitudes and risk dominance in the long run

Heinrich H. Nax and Jonathan Newton

Games and Economic Behavior, 2019, vol. 116, issue C, 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.

Keywords: Evolution; Conventions; Risk attitudes; Loss aversion; Concave utility; State dependence (search for similar items in EconPapers)
JEL-codes: C73 D81 D90 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:gamebe:v:116:y:2019:i:c:p:179-184

DOI: 10.1016/j.geb.2019.05.001

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