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equilibrium, retains equilibrium expectations but adds stochastic response (of which players are aware). Learning theories explain …) or foregone payoffs (model-directed learning). Finally, many studies reject the joint hypothesis of equilibrium …
Persistent link: https://www.econbiz.de/10014025449
We investigate to what extent genuine social preferences can explain observed other-regarding behavior. In a social dilemma situation (a dictator game variant), people can choose whether to learn about the consequences of their choice for the receiver. We find that a majority of the people that...
Persistent link: https://www.econbiz.de/10010263853
Game spaces in which an organism must repeatedly compete with an opponent for mutually exclusive outcomes are critical methodologies for understanding decision-making under pressure. In the non-transitive game rock, paper, scissors (RPS), the only technique that guarantees the lack of...
Persistent link: https://www.econbiz.de/10012062319
We investigate to what extent genuine social preferences can explain observed other-regarding behavior. In a social dilemma situation (a dictator game variant), people can choose whether to learn about the consequences of their choice for the receiver. We find that a majority of the people that...
Persistent link: https://www.econbiz.de/10014220835
learning experiment. We find that virtual communication leads to a substantial deterioration of group rationality for a …
Persistent link: https://www.econbiz.de/10010234002
We introduce the notion of strategic awareness in experimental games which captures the idea that subjects realize they are playing a game and thus have to form beliefs about others' actions in order to play well. The concept differs from both, rule understanding and rationality. We then turn to...
Persistent link: https://www.econbiz.de/10009768997
We introduce the notion of strategic awareness in experimental games which captures the idea that subjects realize they are playing a game and thus have to form beliefs about others’ actions. The concept differs from both, rule understanding and rationality. We then turn to experimental...
Persistent link: https://www.econbiz.de/10011297725
Standard equilibrium concepts in game theory find it difficult to explain the empirical evidence from a large number of static games, including the prisoner's dilemma game, the hawk-dove game, voting games, public goods games and oligopoly games. Under uncertainty about what others will do in...
Persistent link: https://www.econbiz.de/10011384070
In this paper we propose a theory of cognitive dissonance through imperfect memory. Cognitive dissonance is the tendency of a person to engage in self justification after a decision. We offer an interpretation of the single decision cognitive dissonance experiments: an agent has an unknown cost...
Persistent link: https://www.econbiz.de/10012729428
This paper presents a novel approach to analyze human decision-making that involves comparing the behavior of professional chess players relative to a computational benchmark of cognitively bounded rationality. This benchmark is constructed using algorithms of modern chess engines and allows...
Persistent link: https://www.econbiz.de/10012499843