Standard equilibrium concepts in game theory find it difficult to explain the empirical evidence from a large number of …

game theory predictions. However, those models are short of providing a general theory of behavior in economic interactions …. In two previous articles, we proposed a rational theory of behavior in non-cooperative games, termed Economic Harmony … theory (EH). In EH, we retained the rationality principle but modified the players' utilities by defining them as functions …

Focusing on sellers’ pricing decisions and the ensuing seller-buyer interactions, we report an experiment on dynamic … deviations from equilibrium benchmarks on both sides of the market. Specifically, in our experiment the sellers are boundedly …

predictions that agents make about the behavior of other individuals. Cognitive hierarchy theory provides a framework to model the … consequences of forecasting accuracy that has proven to fit data from certain types of game theory experiments, such as Keynesian … cognitive hierarchy theory. …

decision theory by training 69 artificial intelligence models on a dataset of 7080 human decisions in extensive form games. The … order to improve their own performance during a strategic interaction. We use human game theory data for training and … decision makers, a crucial aspect of our 'Theory of Mind'. We show that key psychological features, such as the Weber …

We conduct an artefactual field experiment to compare the individual preferences and propensity to cooperate of three …