We present a decision theory appropriate for use in serious choices such as insurance. It extends standard decision theories like expected utility or cumulative prospect theory which are atemporal single stage theories. Instead it employs stages of knowledge ahead to track satisfactions and...

The management game SINTO-Market was originally developed and programmed by Otwin Becker and Reinhard Selten and is recently performed at the University of Graz. The decisions are made by groups of students, each group represented by one of the three firms. The game SINTO-market puts the players...