Risk Aversion in a Dynamic Trading Game

Larry Karp

No 51231, Working Papers from International Agricultural Trade Research Consortium

Abstract: The effect of risk aversion on Nash equilibrium trade restrictions is studied using numerical methods. An increase in a nation's level of risk aversion can lead to either an increase or decrease in its equilibrium restriction and either an increase or decrease in its rival's restriction. The linear quadratic dynamic game is generalized to include risk aversion.

Keywords: International; Relations/Trade (search for similar items in EconPapers)
Pages: 25
Date: 1986
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Related works:
Working Paper: Risk aversion in a dynamic trading game (1986)
Working Paper: Risk Aversion in a Dynamic Trading Game (1986)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:iatrwp:51231

DOI: 10.22004/ag.econ.51231

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