Modeling Interdependent Risks
Published in Risk Analysis • Jun 1, 2007
NobleIDNI9P34W65R18S63
Authors:,
Geoffrey Heal
Howard Kunreuther
Abstract
In an interdependent world the risks faced by any one agent depend not only on its choices but also on those of all others. Expectations about others' choices will influence investments in risk management and the outcome can be suboptimal for everyone. We model this as the Nash equilibrium of a game...
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