?–? Games

Risk aversion in game theory is usually modeled using expected utility, which was criticized early on, leading to an extensive literature on generalized utility. In this paper we are the first apply ?–? analysis of (static) games. widely accepted finance literature; it allows us study effect uncertainty endogenous game, i.e., mixed equilibria. particular, look at case linear utility functions and determine best response strategy. 2 × N M games, able characterize all