Risk aversion in game theory is usually modeled using expected utility, which was criticized early on, leading to an extensive literature on generalized expected utility. In this paper we are the first to apply μ-σ theory to the analysis of (static) games. μ-σ theory is widely...

Communication is a well-known tool to promote cooperation and pro-social behavior. In this study, we examine whether minimal communication in form of public consent with a pre-defined cooperation statement is sufficient to strengthen cooperation in groups. Within the controlled environment of a...

Inspired by the work of Rubinstein, this study revisits data from a previous lab experiment to explore the relation between response times and tax compliance and understand the potential non-linearity between them by classifying decisions and individuals into compliance types. We find that...