Experimental Game Theory
نویسنده
چکیده
Whereas orthodox game theory relies on the unrealistic assumption of (commonly known) perfect rationality, the participants in game-playing experiments are, at best, rational only within limits. This makes it necessary to supplement orthodox game theory with a behavioral theory of game playing. This contribution first points out that this applies also to (one person-) decision theory. After reviewing influential experiments based on repeated games and the ultimatum game, typical reactions to the striking experimental results are categorized. Further sections are devoted to alternating offer bargaining and to characteristic function experiments.
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