In this paper, we introduce the concept of payoff distortion inthe standard prisoner’s dilemma game when strategies are driven by psychologicalbehaviors. This concept enables to take account each player’s assessmentof the other player’s behavior and the asymmetry of information....

How does a choice experiment (CE) model derived under standard preference axioms perform for respondents with incomplete preferences?[...]

Data on contestants’ choices in Italian Game Show Affari Tuoi are analysed in a way that separatesthe effect of risk attitude (preferences) from that of beliefs concerning the amount ofmoney that will be offered to contestants in future rounds. The most important issue addressedin the paper is...

This experimental study investigates whether individuals preferbounded rationality over rational choice theory when facing simpleinvestment tasks. First, participants state some personal parametersthat serve as an input to render a theoretical approach, namelysatisficing or optimality,...