This essay considers the potential for utilizing web games for research and teaching. It discusses a specific gaming facility that has been constructed and utilized. The gaming facility can be made available for use for those interested in utilizing it for teaching and/or research purposes. The...

This essay considers the potential for utilizing web games for research and teaching. It discusses a specific gaming facility that has been constructed and utilized. The gaming facility can be made available for use for those interested in utilizing it for teaching and/or research purposes. The...

A decision maker is asked to express her beliefs by assigning probabilities to certain possible states. We focus on the relationship between her database and her beliefs. We show that, if beliefs given a union of two databases are a convex combination of beliefs given each of the databases, the...

An agent is asked to assess a real-valued variable y based on certain characteristics x=(x^{1},...,x^{m}), and on a database consisting of n observations of (x^{1},...,x^{m},y). A possible approach to combine past observations of x and y with the current values of x to generate an assessment of...

People may be surprised by noticing certain regularities that hold in existing knowledge they have had for some time. That is, they may learn without getting new factual information. We argue that this can be partly explained by computational complexity. We show that, given a database, finding a...

An agent is asked to assess a real-valued variable Y_{p} based on certain characteristics X_{p} = (X_{p}^{1},...,X_{p}^{m}), and on a database consisting (X_{i}^{1},...,X_{i}^{m},Y_{i}) for i = 1,...,n. A possible approach to combine past observations of X and Y with the current values of X to...

People reason about real-estate prices both in terms of general rules and in terms of analogies to similar cases. We propose to empirically test which mode of reasoning fits the data better. To this end, we develop the statistical techniques required for the estimation of the case-based model....

The quantal response equilibrium (QRE) notion of McKelvey and Palfrey (1995) has recently attracted considerable attention, due in part to its widely documented ability to rationalize observed behavior in games played by experimental subjects. However, even with strong a priori restrictions on...

The quantal response equilibrium (QRE) notion of McKelvey and Palfrey (1995) has recently attracted considerable attention, due largely to its widely documented ability to rationalize observed behavior in games played by experimental subjects. We show that this ability to fit the data, as...

The use of equilibrium models in economics springs from the desire for parsimonious models of economic phenomena that take human reasoning into account. This approach has been the cornerstone of modern economic theory. We explain why this is so, extolling the virtues of equilibrium theory; then...