On the impossibility of protecting risk-takers
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More about this item
Keywords
risk-loving agents; auctions; gambling; prospect theory;All these keywords.
JEL classification:
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
- D44 - Microeconomics - - Market Structure, Pricing, and Design - - - Auctions
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
NEP fields
This paper has been announced in the following NEP Reports:- NEP-CTA-2015-04-11 (Contract Theory and Applications)
- NEP-GTH-2015-04-11 (Game Theory)
- NEP-MIC-2015-04-11 (Microeconomics)
- NEP-UPT-2015-04-11 (Utility Models and Prospect Theory)
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