Individual decision making and social interaction

M. Kosfeld

Research output: ThesisDoctoral Thesis

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Abstract

All economic action involves interaction among individuals. Moreover, most of these interactions have a primarily social character. We talk with friends, we ask others for advice, we arrange to meet people, we work together with colleagues, we live next to neighbours. This thesis takes a closer analytical look at the issue of social interaction in relation to the decision-making of individuals. Inspired by ideas from evolutionary game theory, learning theory and models of bounded rationality it considers three main topics: problems of coordination, economic effects of rumours, and behavioural consequences of regret. The study demonstrates in particular how both individual decision-making and social interaction affect not only the behaviour of individuals in an economy but also, via the system of interaction, the aggregate behaviour of the economy itself.
Original languageEnglish
QualificationDoctor of Philosophy
Awarding Institution
  • Tilburg University
Supervisors/Advisors
  • Ruys, Pieter, Promotor
  • Talman, A.J.J., Promotor
Award date30 Jun 1999
Place of PublicationTilburg
Publisher
Print ISBNs9056680544
Publication statusPublished - 1999

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