Strategic risk aversion

Sherrill Shaffer

    Research output: Contribution to journalArticle

    Abstract

    This article demonstrates that exaggerated risk aversion may comprise a rational form of strategic behaviour in the face of asymmetric information. Unlike some other forms of strategic behaviour analysed previously, this behaviour confers a benefit in the form of higher ex post consumption (not merely higher expected consumption or expected utility) and whether or not markets are perfectly competitive.
    Original languageEnglish
    Pages (from-to)949-956
    JournalApplied Financial Economics
    Volume21
    Issue number13
    DOIs
    Publication statusPublished - 2011

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