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Common research on decision-making investigates non-interdependent situations, i.e., games against natureʺ. However … makes psychological decision-making more complex by introducing the outcomes for others as an additional attribute of that … frame. It examines whether some irrationalities of human decision-making might be explained by such a shift in grasping the …
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The notion of choice inconsistency is widely spread in the literature on behavioral economics. Several approaches were used to account for the observation that people reverse their choices over time. This paper aims to explain the formation of resolutions regarded as internal self-binding...
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In this paper we are studying a multiple player two-armed bandit model with two risky arms in discrete time. Players have to find the superior arm and can learn from others' history of choices and successes. In equilibrium, there is no con?ict between individual and social rationality. If agents...
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