Stochastic Game Theory: For Playing Games, Not Just for Doing Theory

Recent theoretical advances have dramatically increased the relevance of game theory for predicting human behavior in interactive situation. By relaxing the assumptions of perfect rationality and perfect foresight, we obtain much improved explanations of (i) initial decisions (ii)dynamic patterns of learning and adjustment, and (iii) equilibrium steady-state distributions.

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Year of publication:	1999-03
Authors:	Holt, Charles A. ; Goeree, Jacob K.
Institutions:	University of Virginia, Department of Economics
Subject:	experiments \| stochastic game theory \| bounded rationality \| quantal response equilibrium \| introspection \| learning \| evolution

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Extent:	application/pdf
Series:	Virginia Economics Online Papers.
Type of publication:	Book / Working Paper
Language:	English
Notes:	16 pages
Classification:	C72 - Noncooperative Games ; C92 - Laboratory; Group Behavior
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005750334