On the Evolution of Attitudes towards Risk in Winner-Take-All Games
AbstractA long-standing conjecture is that winner-take-all games such as patent races lead to the survival of risk-takers and the extinction of risk-averters. In many species a winner-take-all game determines the males' right to reproduce, and the same argument suggests that males will evolve to be risk-takers. Psychological and sociological evidence buttresses the argument that males are more risk-taking than females. Using an evolutionary model of preference-formation, we investigate to what extent evolution leads to risk-taking in winner-take-all environments.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Economic Theory.
Volume (Year): 87 (1999)
Issue (Month): 1 (July)
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Web page: http://www.elsevier.com/locate/inca/622869
Other versions of this item:
- Dekel, E. & Scotchmer, S., 1999. "On the Evolution of Attitudes Towards Risk in Winner-Take-All Games," Papers 4-99, Tel Aviv.
- C70 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - General
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
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