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The standard tool for analysing social dilemmas is game theory. They are reconstructed as prisoner dilemma games. This … typically not based on ad hoc calculation. Rather, individuals rely on situational heuristics for the purpose. This paper does … two things: it offers a model of heuristics, in the interest of making behaviour that is guided by heuristics comparable …
Persistent link: https://www.econbiz.de/10011582028
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The standard tool for analysing social dilemmas is game theory. They are reconstructed as prisoner dilemma games. This … typically not based on ad hoc calculation. Rather, individuals rely on situational heuristics for the purpose. This paper does … two things: it offers a model of heuristics, in the interest of making behaviour that is guided by heuristics comparable …
Persistent link: https://www.econbiz.de/10014071955
The ecological rationality of heuristics has been extensively investigated in the domain of individual decision making … versus more complex decision policies (or strategies) from the experimental game theory literature is an important first step …-case scenario and another criterion measuring robustness to different distributions of opponent policies. Heuristics performed well …
Persistent link: https://www.econbiz.de/10012897869
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How do human beings make decisions when, as the evidence indicates, the assumptions of the Bayesian rationality … possess a toolkit of heuristics to make decisions under certainty, risk, subjective uncertainty, and true uncertainty (or … Knightian uncertainty). We outline recent advances in knowledge about the use of heuristics and departures from Bayesian …
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