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Simon's (1955) famous paper was one of the first to cast doubt on the validity of rational choice theory; it has been supplemented by many more papers in the last three and a half decades. Nevertheless, rational choice theory plays a crucial role in classical and neoclassical economic theory,...
Persistent link: https://www.econbiz.de/10014068431
Common research on decision-making investigates non-interdependent situations, i.e., quot;games against naturequot;. However, humans are social beings and many decisions are made in social settings, where they mutually influence each other, i.e., quot;strategic gamesquot;. Mathematical game...
Persistent link: https://www.econbiz.de/10012723032
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The structure of a social dilemma lies behind many environmental problems. Mingling temporal aspects of resources with the structure of the social dilemma often leads to wrong conclusions. Therefore, it is worth analytically separating temporal aspects from structural aspects of the dilemma....
Persistent link: https://www.econbiz.de/10014210747