Optimism and pessimism in games (working paper)
Eichberger, Jürgen; Kelsey, David
Date: 1 November 2006
Publisher
University of Exeter, School of Business and Economics
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Abstract
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 study comparative statics of changes in ambiguity-attitude in
games with strategic complements or substitutes. This gives a precise ...
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 study comparative statics of changes in ambiguity-attitude in
games with strategic complements or substitutes. This gives a precise statement of the
impact of ambiguity on economic behaviour.
Economics
Faculty of Environment, Science and Economy
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