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Strategic risk aversion

Shaffer, Sherrill


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.

CollectionsANU Research Publications
Date published: 2011
Type: Journal article
Source: Applied Financial Economics
DOI: 10.1080/09603107.2011.556587


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