Exact(60)
In the end, people always want to maximize their payoffs.
So for the taxpayers, what are their payoffs?
Agents become more risk averse after their payoffs exceed their aspirations, or become more risk seeking after their payoffs fall short of their aspirations.
The workers are expecting their payoffs to arrive by wire transfers today.
Their payoffs remained unlimited, but their risks were now capped by limited liability".
Proposals were often rejected because their payoffs were seen as too small, he said.
And yet, even though useful quantum computers might still be decades away, many of their payoffs are already arriving.
He would watch from an adjoining room as they placed their payoffs in a large fish bowl.
Before long, they were dividing their time between the illuminated targets in a way that roughly maximized their payoffs.
Would they rather be in the integrated equilibrium, given that these are their payoffs, or the segregated equilibrium?
Preventive efforts incur costs up-front, but their payoffs may be many years down the line, further, apparently, than most managed care plans are able to see.
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