Artikel
μ-σ games
Risk aversion in game theory is usually modeled using expected utility, which was criticized early on, leading to an extensive literature on generalized expected utility. In this paper we are the first to apply μ-σ theory to the analysis of (static) games. μ-σ theory is widely accepted in the finance literature; using it allows us to study the effect on uncertainty endogenous to the game, i.e., mixed equilibria. In particular, we look at the case of linear μ-σ utility functions and determine the best response strategy. In the case of 2 × 2 and N × M games, we are able to characterize all mixed equilibria.
- Sprache
-
Englisch
- Erschienen in
-
Journal: Games ; ISSN: 2073-4336 ; Volume: 12 ; Year: 2021 ; Issue: 1 ; Pages: 1-12 ; Basel: MDPI
- Klassifikation
-
Wirtschaft
- Thema
-
μ
-σ
utility
equilibrium
game theory
mixed strategies
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Dulleck, Uwe
Löffler, Andreas
- Ereignis
-
Veröffentlichung
- (wer)
-
MDPI
- (wo)
-
Basel
- (wann)
-
2021
- DOI
-
doi:10.3390/g12010005
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Artikel
Beteiligte
- Dulleck, Uwe
- Löffler, Andreas
- MDPI
Entstanden
- 2021
Ähnliche Objekte (12)
Names for games: Locating 2 × 2 games
Games with synergistic preferences
Game awareness: A questionnaire
Coordination games and local interactions: A survey of the game theoretic literature
Guessing the game: An individual's awareness and assessment of a game's existence
Evolutionary game theory: A renaissance
Vector games with potential function
Reciprocity effects in the trust game
Epistemic game theory and logic: Introduction
Consistent beliefs in extensive form games
An adaptive learning model in coordination games
Alleviation and sanctions in social dilemma games
Names for games: Locating 2 × 2 games
Games with synergistic preferences
Game awareness: A questionnaire
Coordination games and local interactions: A survey of the game theoretic literature
Guessing the game: An individual's awareness and assessment of a game's existence
Evolutionary game theory: A renaissance
Vector games with potential function
Reciprocity effects in the trust game
Epistemic game theory and logic: Introduction
Consistent beliefs in extensive form games
An adaptive learning model in coordination games
Alleviation and sanctions in social dilemma games
Names for games: Locating 2 × 2 games
Games with synergistic preferences
Game awareness: A questionnaire
Coordination games and local interactions: A survey of the game theoretic literature
Guessing the game: An individual's awareness and assessment of a game's existence
Evolutionary game theory: A renaissance
Vector games with potential function
Reciprocity effects in the trust game
Epistemic game theory and logic: Introduction
Consistent beliefs in extensive form games
An adaptive learning model in coordination games