This paper brings together views on choice making as have been developed in philosophy, psychology, and economics. Starting from specific examples the relative merits of different approaches are discussed. The conclusion that models of boundedly rational behavior are the future of social science...

Nach Einordung der Spieltheorie als Rationalverhalten bei interaktiven sozialen Entscheidungsproblemen in Volks- und Betriebswirtschaftslehre werden kurz die (Spiel-)Formen zur Abbildung sozialer Entscheidungssituationen und die wesentlichen Lösungskonzepte vorgestellt. Konkret verdeutlicht...

The general framework of decision emergence (Güth, 200a) is applied to the specific decision task of a proposer in ultimatum bargaining, i.e. to choosing how much the responder should be offered. For this purpose the "Master Module" as well as its submodules "New Problem Solver", "Adaption...

We consider an economy composed of two regions. Each of them provides a public good whose benefits reach beyond local boundaries. In case of decentralization, taxes collected by members of a region are spent only on that region's public good. In case of centralization, tax receipts from the two...

The question "which utility function would homo oeconomicus choose if he could?" (Frank, 1987) is answered for interactive markets where sellers are assumed to freely choose their dependency on the other's market behavior. We first solve the market for all possible constellations of mutual...

We analyze a durable-goods monopoly selling a single unit of a good to a buyer whose value of the good is private information. The discount factors of the buyer and the seller may differ and are also privately known. We derive the closed-form solution of a two-period game and compare it to the...