A long-standing conjecture is that winner-take-all games such as patent races lead to the survival of risk-takers and the extinction of risk-averters. In many species a winner-take-all game determines the males' right to reproduce, and the same argument suggests that males will evolve to be risk-takers. Psychological and sociological evidence buttresses the argument that males are more risk-taking than females. Using an evolutionary model of preference-formation, we investigate to what extent evolution leads to risk-taking in winner-take-all environments.
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Paper provided by Tel Aviv in its series Papers with number
4-99.
Find related papers by JEL classification: C70 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - General D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
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Dekel, Eddie & Ely, Jeffrey & Yilankaya, Okan, 2004.
"Evolution of Preferences,"
Micro Theory Working Papers
dekel-04-08-13-01-21-07, Microeconomics.ca Website, revised 09 Jun 2006.
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