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In economic theory, an agent chooses from available alternatives-modeled as a set. In decisions in the field or in the lab, however, agents do not have access to the set of alternatives at once. Instead, alternatives are represented by the outside world in a structured way. Online search results...
Persistent link: https://www.econbiz.de/10012698098
by probabilities, common knowledge and symmetric rationality as background assumptions are treated as “given.” A richer …
Persistent link: https://www.econbiz.de/10009751382
Standard equilibrium concepts in game theory find it difficult to explain the empirical evidence from a large number of static games, including the prisoner's dilemma game, the hawk-dove game, voting games, public goods games and oligopoly games. Under uncertainty about what others will do in...
Persistent link: https://www.econbiz.de/10011384070
dynamic games. To that purpose, we take the concepts of common belief in future rationality (Perea [1]) and extensive form …
Persistent link: https://www.econbiz.de/10009751974
unlimited bet size is modified to incorporate sequential rationality. …
Persistent link: https://www.econbiz.de/10010350891
We define a concept of epistemic robustness in the context of an epistemic model of a finite normal-form game where a player type corresponds to a belief over the profiles of opponent strategies and types. A Cartesian product X of pure-strategy subsets is epistemically robust if there is a...
Persistent link: https://www.econbiz.de/10011620518
contingencies. The objects of belief-revision policies are beliefs, not strategies and acts. Thus, the rationality of belief …
Persistent link: https://www.econbiz.de/10011621369
The strategy method is often used in public goods games to measure an individual's willingness to cooperate depending on the level of cooperation by their groupmates (conditional cooperation). However, while the strategy method is informative, it risks conflating confusion with a desire for fair...
Persistent link: https://www.econbiz.de/10014418083
We argue in favor of a departure from the equilibrium approach in game theory towards the less ambitious goal of describing only the actual behavior of rational players. The notions of Nash equilibrium and its refinements require a specification of the players' choices and beliefs not only along...
Persistent link: https://www.econbiz.de/10014418128
In simple dyadic games such as rock, paper, scissors (RPS), people exhibit peculiar sequential dependencies across repeated interactions with a stable opponent. These regularities seem to arise from a mutually adversarial process of trying to outwit their opponent. What underlies this process,...
Persistent link: https://www.econbiz.de/10012649176