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Non-cooperative games
van Damme, Eric - Tilburg University, Center for Economic Research - 2014
noted. Conventional theory focuses on the<br/>question ‘how will rational players play?’, and has the Nash equilibrium at …) and relaxations (rationalizability and correlated equilibria).<br/>Motivated by experiments that show systematic theory … violations, behavioral game<br/>theory aims to integrate insights from psychology to get better answers to the<br/>question ‘how …
Persistent link: https://www.econbiz.de/10011144456
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What to Maximize If You Must
Heifetz, Aviad; Shannon, Chris; Spiegel, Yossi - Institute of Business and Economic Research (IBER), … - 2002
The assumption that decision makers choose actions to maximize their preferences is a central tenet in economics. This assumption is often justified either formally or informally by appealing to evolutionary arguments. In contrast, this paper shows that in almost every game, payoff. maximization...
Persistent link: https://www.econbiz.de/10011131494
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Your Morals are Your Moods
Kirchsteiger, G.; Rigotti, L.; Rustichini, A. - Tilburg University, Center for Economic Research - 2000
We test the effect of players' moods on their behavior in a gift-exchange game.In the first stage of the game, player 1 chooses a transfer to player 2.In the second stage, player 2 chooses an effort level.Higher effort is more costly for player 2, but it increases player 1's payoff.We say that...
Persistent link: https://www.econbiz.de/10011091714