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In this paper we give a survey of recent work on game theory devoted to modeling decision making under bounded rationality. An agent's deviation from rational choice understood as maximization of gain can be caused by moral principles (religious beliefs, altruism, patriotism), emotions (envy,...
Persistent link: https://www.econbiz.de/10010839411
In this paper we give a survey of recent works on game theory devoted to modeling of decision making process under bounded rationality. An agent's deviation from rational choice understood as maximization of gain can be caused by moral principles (religious beliefs, altruism, patriotism),...
Persistent link: https://www.econbiz.de/10010895070
/stick ; high-stakes incentives ; rewards ; punishment ; Economics of Religion …
Persistent link: https://www.econbiz.de/10003863809
This work is focused on identifying a circular pull production control system (PPCS) and make emphasis on the presence of a stability attribute. It is an introductory paper to an extended study of macroeconomic financial stability in a physically open but systemic closed system. Previous work...
Persistent link: https://www.econbiz.de/10005126234
This is a theoretical paper examining the assumption of free will in choice behavior in economic theory. The assumption of free will in contemporary economics is an important starting point for socio-economic analysis in contrast to methodologies which assume that human action is pre-determined...
Persistent link: https://www.econbiz.de/10014218057
between the members of the same groups. In the real world, individuals are members of groups and want to reward or punish … those groups whose members have been kind or unkind to members of their own. In this paper, we extend Dufwenberg and … Kirchsteiger's model of sequential reciprocity (Games Econ Behav 47(2):268-298, 2004) to groups of individuals and define a new …
Persistent link: https://www.econbiz.de/10011994324
between the members of the same groups. In the real world, individuals are members of groups and want to reward or punish … those groups whose members have been kind or unkind to members of their own. In this paper, we extend Dufwenberg and … Kirchsteiger’s model of sequential reciprocity (Games Econ Behav 47(2):268–298, 2004) to groups of individuals and define a new …
Persistent link: https://www.econbiz.de/10011885713
How does a group’s gender composition influence its decisions? Economists have found women to be more generous and … egalitarian than men, so one might expect groups with more women to be more generous/egalitarian. Group polarization, whereby … experimental evidence. Femalemajority groups are more generous/egalitarian than male-majority groups,ut female unisex groups are …
Persistent link: https://www.econbiz.de/10005645464
The paper lists salient characteristics of the certainty theory of consumer choice and discusses the import of prominent empirical analyses of the theory. All of them reject the theory's empirical relevance which suggests that the theory is unfit to analyze consumer choice in an uncertain world....
Persistent link: https://www.econbiz.de/10012939250
The paper lists salient characteristics of the certainty theory of consumer choice and discusses the import of prominent empirical analyses of the theory. All of them reject the theory's empirical relevance which suggests that the theory is unfit to analyze consumer choice in an uncertain world....
Persistent link: https://www.econbiz.de/10012661252