Equilibria in Games with Prospect Theory Preferences

We study how the framework of classical game theory changes whenthe preferences of the players are described by Prospect Theory (PT)and Cumulative Prospect Theory (CPT) instead of Expected UtilityTheory. Specically, we study the inuence of framing eects and probabilityweighting on the existence and specic structure of equilibriain pure and mixed strategies for nite games.[...]

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Year of publication:	2009-11-12
Authors:	Metzger, Lars P. ; Rieger, Marc Oliver
Institutions:	Institut für Schweizerisches Bankwesen <Zürich>
Subject:	Wahrscheinlichkeitsrechnung \| Erwartungstheorie \| Nash-Gleichgewicht \| Nash equilibrium \| Stochastische Dominanz \| stochastic dominance \| Gewichtung

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Extent:	327680 bytes 19 p. application/pdf
Series:	Universität Zürich - Institut für Schweizerisches Bankwesen - Research Papers Research Paper ; Dec. (2009)
Type of publication:	Book / Working Paper
Language:	English
Classification:	C70 - Game Theory and Bargaining Theory. General ; C73 - Stochastic and Dynamic Games ; D81 - Criteria for Decision-Making under Risk and Uncertainty ; Subject matter and research method of business administration ; Forecast, decision making ; Individual Working Papers, Preprints ; No country specification
Source:	USB Cologne (business full texts)

Persistent link: https://www.econbiz.de/10005869074