aversion (the largest numbers of safe choices). Each of these subjects was paired with
one of the eight subjects with the fewest safe choices. In this manner, the authors were
able to evaluate the extent to which differences in risk aversion affected bargaining
behavior. The average number of safe choices (from the 21 rows) made by the risk-
averse group was about 15, and the average number of safe choices for the less risk-
averse group was about 5.
In the bargaining games that Murnighan, Roth, and Schoumaker considered, risk
aversion affects a person’s disagreement point. In one of their games, ...
Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month, and much more.