Behavioral Game Theory. Experiments in Strategic Interaction

2003 ◽  
Vol 32 (6) ◽  
pp. 717-720 ◽  
Author(s):  
Jean-Robert Tyran
Keyword(s):  
Game Theory ◽  
Strategic Interaction ◽  
Behavioral Game Theory ◽  
Behavioral Game

Game Theory and Human Behavior

2014 ◽  
Author(s):  
Herbert Gintis
Keyword(s):  
Game Theory ◽  
Design Of Experiments ◽  
Decision Theory ◽  
Social Norms ◽  
Human Behavior ◽  
Strategic Interaction ◽  
Dark Side ◽  
Social Efficiency ◽  
Behavioral Game Theory ◽  
Behavioral Game

Game theory is multiplayer decision theory where the choices of each player affect the payoffs to other players, and the players take this into account in their choice behavior. This chapter addresses the contribution of game theory to the design of experiments aimed at understanding the behavior of individuals engaged in strategic interaction. This is referred to as behavioral game theory. The chapter goes on to discusses charter virtues, defined as ethically desirable behavioral regularities that individuals value for their own sake, while having the property of facilitating cooperation and enhancing social efficiency. It presents two studies that illustrate the situational nature of preferences and the desire to conform to social norms. It then deals with the dark side of altruistic cooperation and norms of cooperation.

A Multidisciplinary Framework to Model Complex Team-Based Product Development

2015 ◽  
Author(s):  
Shun Takai
Keyword(s):  
Game Theory ◽  
Decision Making ◽  
Product Development ◽  
Decision Analysis ◽  
Equilibrium Analysis ◽  
Design Decision ◽  
Behavioral Game Theory ◽  
Model Complex ◽  
Behavioral Game ◽  
Team Project

This paper investigates a multidisciplinary framework that simulates design decisions in a complex team-based product development in which engineers simultaneously work in a team project and individual projects. The proposed framework integrates cooperative and noncooperative design models with (1) equilibrium analysis, (2) uncertainty modeling based on behavioral game-theory results, and (3) decision-making using decision analysis. In the proposed framework, noncooperative design is used to simulate engineers’ decisions about team project commitment and to analyze potential free-riding; cooperative design is used to model design outcomes when engineers collaborate in the team project; equilibrium analysis and behavioral game-theory results are used to infer about other engineers’ decisions; and decision analysis is used to calculate expected values of decision alternatives. The proposed framework and the design decision-making model are illustrated using a pressure vessel design as a team project conducted by two engineers: a design engineer and a materials engineer.

scholarly journals Progress in Behavioral Game Theory

1997 ◽  
Vol 11 (4) ◽  
pp. 167-188 ◽  
Author(s):  
Colin F Camerer
Keyword(s):  
Game Theory ◽  
Social Values ◽  
Future Research ◽  
Backward Induction ◽  
Behavioral Game Theory ◽  
Dominated Strategies ◽  
Behavioral Game ◽  
Experimental Findings

Behavioral game theory aims to predict how people actually behave by incorporating psychological elements and learning into game theory. With this goal in mind, experimental findings can be organized into three categories: players have systematic 'reciprocated social values,' like desires for fairness and revenge. Phenomena discovered in studies of individual judgments and choices, like 'framing' and overconfidence, are also evident in games. Strategic principles, like irrelevance of strategy labels and timing of moves, iterated elimination of dominated strategies, and backward induction, are violated. Future research should incorporate these findings, along with learning and 'pregame theory,' into formal game theory.

Depth of Reasoning and Information Revelation: An Experiment on the Distribution of k-Levels

2017 ◽  
Vol 19 (04) ◽  
pp. 1750021 ◽  
Author(s):  
Volker Benndorf ◽  
Dorothea Kübler ◽  
Hans-Theo Normann
Keyword(s):  
Game Theory ◽  
Labor Market ◽  
Empirical Distribution ◽  
Similar Distribution ◽  
Information Revelation ◽  
Behavioral Game Theory ◽  
Future Studies ◽  
Text Types ◽  
Behavioral Game ◽  
Text Model

The level-[Formula: see text] model is a workhorse in behavioral game theory. For comparisons across experiments and predictions in future studies, it is crucial to assess the empirical distribution of [Formula: see text]-levels. We present a revelation game suitable for this purpose. In a labor market context, workers can choose to reveal their productivity at a cost, and players’ strategies reveal their level of reasoning in terms of a [Formula: see text]-level. We find that the most frequently observed reasoning levels are [Formula: see text] and [Formula: see text]. In our game roughly 30% of the players are [Formula: see text] and 25% are [Formula: see text]. We compare our results to other experiments that identify level-[Formula: see text] distribution, foremost to the money request (or 11–20) game. Despite various differences to the 11–20 game, our revelation game suggests a very similar distribution of level-[Formula: see text] types.

Sign in / Sign up

Export Citation Format

Share Document