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The paper presents an expository account of several experimentally based descriptive theories of cooperation in interactive decision situations. First the equity principle (Selten 1988), prominence in the decimal system (Albers and Albers 1983), and the difference measure of predictive success...
Persistent link: https://www.econbiz.de/10004968251
The paper deals with bounded rationality understood in the tradition of H.A. Simon. Fundamental problems and theoretical issues are discussed. Special emphasis is put on aspiration adaptation theory. Further remarks concern basic models of decision behavior (like learning and expectation...
Persistent link: https://www.econbiz.de/10004968210
experiment presented here involved lottery choice and valuation tasks. One subject group was paid in binary lottery tickets …
Persistent link: https://www.econbiz.de/10004968262