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Several of the results reported here broadly support theories of sequential equilibria. In particular, at least four pieces of data indicate that game theory's structurally-oriented models predict some of the reasons for individuals' play in the prisoner's dilemma game: (1) more cooperation...
Persistent link: https://www.econbiz.de/10014023582
Although fairness concerns may be relevant, they appear to be too simple an explanation for why game theory's strong predictions for ultimatum games are so rarely supported. Self interested offerers want to avoid rejections; unpredicted, non-equilibrium behavior is more valuable and effective...
Persistent link: https://www.econbiz.de/10014023597
Simply repeating the game with the same set of subjects may change the nature of equilibrium, since incomplete information about types can lead to reputation effects of the sort described in this chapter. A common way to deal with this has been to rematch subjects randomly into groups for each...
Persistent link: https://www.econbiz.de/10014023565