Even risk-averters may love risk (Q1611616): Difference between revisions
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Latest revision as of 05:04, 5 March 2024
scientific article
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English | Even risk-averters may love risk |
scientific article |
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Even risk-averters may love risk (English)
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21 August 2002
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If a player is an expected-utility maximizer, his/her choices will depend on the nature of the game (whether he/she can observe the previous outcomes before making the next decision), his/her utility function, the prior distribution on the bias. In the case of coin tossing, the authors prove that even a risk averter might optimally choose a riskier coin when learning is allowed.
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sequential models
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non-sequential models
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stochastic comparisons
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utility functions
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