Title of article
“Third down with a yard to go”: recursive expected utility and the Dixit–Skeath conundrum
Author/Authors
Simon Grant، نويسنده , , Atsushi Kajii، نويسنده , , Ben Polak، نويسنده ,
Issue Information
روزنامه با شماره پیاپی سال 2001
Pages
12
From page
275
To page
286
Abstract
In two-outcome strictly competitive games, equilibrium mixed strategies do not depend on ultimate prizes. Dixit and Skeath [Games of Strategy (1999) Norton, New York] find this ‘counter-intuitive’. We show this invariance comes from reduction, not independence; and provide conditions for ‘intuitive’ comparative statics under recursive expected utility.
Keywords
Recursive expected utility , Comparative statics , Non-expected utility , Strictly competitive games
Journal title
Economics Letters
Serial Year
2001
Journal title
Economics Letters
Record number
434834
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