The evolution of large-scale cooperation among genetic strangers is a fundamental unanswered question in the social sciences. Behavioral economics has persuasively shown that so called "strong reciprocity" plays a key role in accounting for the endogenous enforcement of cooperation. Insofar as...

Substantial evidence has accumulated in recent empirical works on the limited ability of the Nash equilibrium to rationalize observed behavior in many classes of games played by experimental subjects. This realization has led to several attempts aimed at finding tractable equilibrium concepts...

This book tries to sort out the different meanings of uncertainty and to discover their foundations. It shows that uncertainty can be represented using various tools and mental guidelines. Coverage also examines alternative ways to deal with risk and risk attitude concepts. Behavior under...

This volume on experimental economics offers both new research grounds and a bird's eye view on the field. In the first part, leading experimental economists, among them Vernon S. Smith and Daniel Friedman, give inspiring insights into their view on the general development of this field. In the...