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Testing Game Theory

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Author Info
Weibull, Jörgen W. () (Dept. of Economics, Stockholm School of Economics)

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Abstract

Experimentalists frequently claim that human subjects playing games in the laboratory violate such solution concepts as Nash equilibrium and subgame perfection. This claim is premature. What has been rejected are certain joint hypotheses about preferences, knowledge, and behavior. This note strives to clarify some issues in connection with laboratory experiments, from the viewpoint of non-cooperative game theory, and provides a sketch for a research program for experimental testing of game-theoretic solution concepts.

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Publisher Info
Paper provided by Stockholm School of Economics in its series Working Paper Series in Economics and Finance with number 382.

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Length: 15 pages
Date of creation: 10 May 2000
Date of revision: 11 Jan 2001
Publication status: Published in Advances in Understanding Strategic Behaviour: Game Theory, Experiments and Bounded Rationality. Essay in Honour of Werner Güth, Huck, S. (eds.), 2004, pages 85-104, Palgrave .
Handle: RePEc:hhs:hastef:0382

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Keywords: Game theory experiments

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Find related papers by JEL classification:
A10 - General Economics and Teaching - - General Economics - - - General
C70 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - General
C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
C90 - Mathematical and Quantitative Methods - - Design of Experiments - - - General

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  1. Vincent Crawford, 2003. "Cognition and Behavior in Two-Person Guessing Games," Theory workshop papers 505798000000000049, UCLA Department of Economics. [Downloadable!]
  2. Ido Erev & Alvin Roth & Robert Slonim & Greg Barron, 2007. "Learning and equilibrium as useful approximations: Accuracy of prediction on randomly selected constant sum games," Economic Theory, Springer, vol. 33(1), pages 29-51, October. [Downloadable!] (restricted)
  3. Duozhe Li, 2004. "Bargaining with History Dependent Preferences," Econometric Society 2004 North American Summer Meetings 516, Econometric Society. [Downloadable!]
  4. Miguel Costa-Gomes & Vincent P. Crawford, 2004. "Cognition And Behavior In Two-Person Guessing Games: An Experimental Study," Levine's Bibliography 122247000000000143, UCLA Department of Economics. [Downloadable!]
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  5. Geoffrey Brennan & Werner Güth & Hartmut Kliemt, 2004. "Approximate Truth in Economic Modelling," Discussion Papers on Strategic Interaction 2004-38, Max Planck Institute of Economics, Strategic Interaction Group. [Downloadable!]
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