the uncertainty of subjects regarding others' rationality. We do so by comparing the price forecasts submitted by subjects … hypothesis that uncertainty about others' rationality plays a major role in causing substantial deviation of forecast prices from …

players’ perceptions of their opponents’ skill or level of rationality. We first show theoretically that it is the case by … modelling a two-stage game of capacity investment and pricing with bounded rational players. We then design an experiment in … which we use the level of experience as a proxy for the level of rationality and match subjects with different levels of …

We report an experimental test of the four touchstones of rationality in choice under risk – utility maximization …, stochastic dominance, expected-utility maximization and small-stakes risk neutrality – with students from one of the best … political affairs. We find very small or no significant differences between the two samples in the degree of rationality …

indifference over a certain interval. The results are symptoms of some risk aversion. In an English auction escalation leads to …

the uncertainty of subjects regarding others’ rationality. We do so by comparing the price forecasts submitted by subjects … hypothesis that uncertainty about others’ rationality plays a major role in causing substantial deviation of forecast prices from …

are solved, all based on the model of individual rationality. Invariably, these institutional solutions involve creating … complement, though not displace, that of individual rationality. …