Abstract
concepts. Some applications are also noted. Conventional theory focuses on the
question ‘how will rational players play?’, and has the Nash equilibrium at its core.
We discuss this concept and its interpretations, as well as refinements (perfect and
stable equilibria) and relaxations (rationalizability and correlated equilibria).
Motivated by experiments that show systematic theory violations, behavioral game
theory aims to integrate insights from psychology to get better answers to the
question ‘how do humans play?’. We provide an overview of the observed
regularities and briefly sketch (beginnings of) theories of boundedly rational play.
| Original language | English |
|---|---|
| Place of Publication | Tilburg |
| Publisher | CentER |
| Number of pages | 29 |
| Volume | 2014-077 |
| Publication status | Published - 1 Oct 2014 |
Publication series
| Name | CentER Discussion Paper |
|---|---|
| Volume | 2014-077 |
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Keywords
- Backward induction
- behavioral economics
- correlated equilibrium
- decision
- experimental economics
- game
- game theory
- incomplete information
- noncooperative,
- perfect equilibrium
- rationality
- rationalizability
- sequential equilibrium
- stable equilibrium
Cite this
}
Non-Cooperative Games. / van Damme, E.E.C.
Tilburg : CentER, 2014. (CentER Discussion Paper; Vol. 2014-077).Research output: Working paper › Discussion paper › Other research output
TY - UNPB
T1 - Non-Cooperative Games
AU - van Damme, E.E.C.
PY - 2014/10/1
Y1 - 2014/10/1
N2 - We describe non-cooperative game models and discuss game theoretic solutionconcepts. Some applications are also noted. Conventional theory focuses on thequestion ‘how will rational players play?’, and has the Nash equilibrium at its core.We discuss this concept and its interpretations, as well as refinements (perfect andstable equilibria) and relaxations (rationalizability and correlated equilibria).Motivated by experiments that show systematic theory violations, behavioral gametheory aims to integrate insights from psychology to get better answers to thequestion ‘how do humans play?’. We provide an overview of the observedregularities and briefly sketch (beginnings of) theories of boundedly rational play.
AB - We describe non-cooperative game models and discuss game theoretic solutionconcepts. Some applications are also noted. Conventional theory focuses on thequestion ‘how will rational players play?’, and has the Nash equilibrium at its core.We discuss this concept and its interpretations, as well as refinements (perfect andstable equilibria) and relaxations (rationalizability and correlated equilibria).Motivated by experiments that show systematic theory violations, behavioral gametheory aims to integrate insights from psychology to get better answers to thequestion ‘how do humans play?’. We provide an overview of the observedregularities and briefly sketch (beginnings of) theories of boundedly rational play.
KW - Backward induction
KW - behavioral economics
KW - correlated equilibrium
KW - decision
KW - experimental economics
KW - game
KW - game theory
KW - incomplete information
KW - noncooperative,
KW - perfect equilibrium
KW - rationality
KW - rationalizability
KW - sequential equilibrium
KW - stable equilibrium
M3 - Discussion paper
VL - 2014-077
T3 - CentER Discussion Paper
BT - Non-Cooperative Games
PB - CentER
CY - Tilburg
ER -