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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
Game and decision theory start from rather strong premises. Preferences, represented by utilities, beliefs represented … language enabling us to capture the process leading to what is “given” seems superior to the stenography of decision making in …
Persistent link: https://www.econbiz.de/10009751382
This article is an overview of recent progress on a theory of games, whose payoffs are probability distributions rather than real numbers, and which have their equilibria defined and computed over a (suitably restricted yet dense) set of distributions. While the classical method of defining game...
Persistent link: https://www.econbiz.de/10014418196
indistinguishable between the two conditions. These results are in line with earlier findings on individual decision making and with a … complexity of the decision problem. …
Persistent link: https://www.econbiz.de/10011848336
countervailing conflicts of interest, offering insights into decision-making in principal-agent relationships. …
Persistent link: https://www.econbiz.de/10014443303
, people may behave as if they would perform a non-strategic decision making task when in fact they are playing a proper game …
Persistent link: https://www.econbiz.de/10011993280
methodologies for understanding decision-making under pressure. In the non-transitive game rock, paper, scissors (RPS), the only … behavior is thought to be outside bounded rationality and so decision-making can become deterministic, predictable, and …
Persistent link: https://www.econbiz.de/10012062319
and hence a spectral representation. As a result, cooperation systems, decision systems and quantum systems all become …
Persistent link: https://www.econbiz.de/10011771247
's unobservable state of mind. Using Markov decision processes, we investigate optimal decision rules and their performance in … optimal behavior through commitment-like decision rules by which players are committed to selecting the same action regardless … of their opponent's behavior. These commitment-like decision rules can enhance or reduce cooperation depending on the …
Persistent link: https://www.econbiz.de/10011515649
decision, dictators read a short text. Depending on the treatment, the text either emphasizes their decision power and freedom … receiver, while only women seem to react positively to a text that emphasizes their decision power and freedom of choice. …
Persistent link: https://www.econbiz.de/10011849527