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Testing Game Theory

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  • Weibull, Jörgen W.

    ()
    (Dept. of Economics, Stockholm School of Economics)

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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Bibliographic 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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Cited by:
  1. 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.
  2. Temzelides, Ted, 2010. "Modeling the act of measurement in the social sciences," Journal of Mathematical Economics, Elsevier, vol. 46(4), pages 607-615, July.
  3. Miguel A. Costa-Gomes & Vincent P. Crawford, 2006. "Cognition and Behavior in Two-Person Guessing Games: An Experimental Study," Levine's Bibliography 321307000000000336, UCLA Department of Economics.
  4. Gary E. Bolton & Axel Ockenfels, 2002. "A stress test of fairness measures in models of social utility," Papers on Strategic Interaction 2002-29, Max Planck Institute of Economics, Strategic Interaction Group.
  5. Bernard, Mark, 2011. "A folk theorem for endogenous reference points," Economics Letters, Elsevier, vol. 112(3), pages 223-225, September.
  6. Bernard, Mark, 2010. "Level-k reasoning in contests," Economics Letters, Elsevier, vol. 108(2), pages 149-152, August.
  7. Basu, Kaushik, 2006. "Identity, Trust and Altruism: Sociological Clues to Economic Development," Working Papers 06-05, Cornell University, Center for Analytic Economics.
  8. Basu, Kaushik, 2005. "Racial Conflict and the Malignancy of Identity," Working Papers 05-02, Cornell University, Center for Analytic Economics.
  9. Li, Jing, 2008. "The power of conventions: A theory of social preferences," Journal of Economic Behavior & Organization, Elsevier, vol. 65(3-4), pages 489-505, March.
  10. Duozhe Li, 2004. "Bargaining with History Dependent Preferences," Econometric Society 2004 North American Summer Meetings 516, Econometric Society.
  11. Vincent Crawford, 2003. "Cognition and Behavior in Two-Person Guessing Games," Theory workshop papers 505798000000000049, UCLA Department of Economics.
  12. Geoffrey Brennan & Werner Güth & Hartmut Kliemt, 2004. "Approximate Truth in Economic Modelling," Papers on Strategic Interaction 2004-38, Max Planck Institute of Economics, Strategic Interaction Group.

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