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| Pàgina inicial > Documents de recerca > Working papers > Dynamic stackelberg game with risk-averse players : |
| Data: | 2010 |
| Descripció: | 26 p. |
| Resum: | The objective of this paper is to clarify the interactive nature of the leader-follower relationship when both players are endogenously risk-averse. The analysis is placed in the context of a dynamic closed-loop Stackelberg game with private information. The case of a risk-neutral leader, very often discussed in the literature, is only a borderline possibility in the present study. Each player in the game is characterized by a risk-averse type which is unknown to his opponent. The goal of the leader is to implement an optimal incentive compatible risk-sharing contract. The proposed approach provides a qualitative analysis of adaptive risk behavior profiles for asymmetrically informed players in the context of dynamic strategic interactions modelled as incentive Stackelberg games. |
| Drets: | Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat, la unitat i l'institut i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús  |
| Llengua: | Anglès. |
| Col·lecció: | Working papers |
| Col·lecció: | Working papers ; 797.09 |
| Document: | workingPaper |
| Matèria: | Risc, Gestió del |
