Transactions often differ on important dimensions from spot exchanges on perfect neo-classical markets. Information is seldom complete and instantaneous exchange is just as rare as full competition. The authors in this volume extend the standard economic model stressing the proposition that the...

Our research starts from the assumption that actors use a single decision theory to guide them on how to behave in all possible one-shot two-person encounters. To address which decision theories perform well, we let 17 theories compete in a large number of randomly selected symmetric 2×2 games....