This chapter reviews recent experimental data testing game theory and behavioral models that have been inspired to explain those data. The models fall into four groups: in cognitive hierarchy or level- k models, the assumption of equilibrium is relaxed by assuming agents have beliefs about other...

History has shown that crisis often serves as a condition precedent to social and regulatory reform. Since the 1990s, the public interest has also taken an advanced role in these reforms. As we have grown in scientific, technological, and economic sophistication, the public has increasingly...

This short paper considers all possible stakeholders in different stages of a sustainability transition and matches their behavioral features and diversity to policies. This will involve an assessment of potential or expected responses of stakeholders to a range of policy instruments. Following...

Social interdependence is believed to play an important role in how people make individual choices. This paper presents a simple model constructed on the premise that people are motivated by their own payoff as well as by how their actions compare with those of other people in their reference...

In recent years, many social scientists have claimed that trust plays an important role in economic and social transactions. Despite its proposed importance, the measurement and the definition of trust seem to be not fully settled, and the identification of the exact role of trust in economic...

Behavioral economics characterizes decision-makers using psychologically-informed models. Cognitive science produces psychologically-informed models. Why don't these disciplines talk more? Here, the author presents several arguments for why cognitive science should inform behavioral economics -...

In recent years, many social scientists have claimed that trust plays an important role in economic and social transactions. Despite its proposed importance, the measurement and the definition of trust seem to be not fully settled, and the identification of the exact role of trust in economic...

In recent years, many social scientists have claimed that trust plays an important role in economic and social transactions. Despite its proposed importance, the measurement and the definition of trust seem to be not fully settled, and the identification of the exact role of trust in economic...

Behavioral economics aspires to replace the agents of neoclassical economics with living, breathing human beings. Here, the author argues that behavioral economics, like its neoclassical counterpart, often neglects the role of active sense-making that motivates and guides much human behavior....

In recent years, many social scientists have claimed that trust plays an important role in economic and social transactions. Despite its proposed importance, the measurement and the definition of trust seem to be not fully settled, and the identification of the exact role of trust in economic...