On the basis of experimental evidence reported in the literature the paper draws conclusions about the bounded rationality exhibited by human economic behaviour. Among the topics discussed are presentation effects caused by superficial analysis, strategic reasoning and strategy construction based on reciprocity and fairness, avoidance of circular concepts in step by step strategic reasoning, ex-post rationality and learning direction theory, presence of both adaptive and analytic approaches to repeated decision tasks, and the absence of quantitative expectations and optimization in typical repeated game strategies
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Paper provided by University of Bonn, Germany in its series Discussion Paper Serie B with number
421.
Length: pages Date of creation: Date of revision:
Nov 1997 Handle: RePEc:bon:bonsfb:421
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Find related papers by JEL classification: C70 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - General C90 - Mathematical and Quantitative Methods - - Design of Experiments - - - General D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information
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