Article ID Journal Published Year Pages File Type
9549219 Economics Letters 2005 7 Pages PDF
Abstract
We investigate experimentally the conjecture that loss avoidance solves the tension in stag-hunt games for which payoff dominance and risk dominance make conflicting predictions. Contrary to received textbook wisdom, money-losing outcomes do shift behavior, albeit not strongly, toward the payoff-dominant equilibrium.
Keywords
Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
Preview
Loss avoidance as selection principle: Evidence from simple stag-hunt games
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