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Integrating Affective Responses into Game Theory: A Dual Selves Model

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  • Matthias Greiff

    () (University of Giessen)

Abstract

This paper develops a method to integrate affective reponses into game theoretical models. We illustrate our method in a team production framework. The model analyzes how concave and convex status preferences for esteem solve the problem of team production under complete and incomplete information about workers’ abilities. Using a dual selves model, we model the choice of effort as a deliberative decision and the expression of esteem as an affective response. Modeling an individual’s affective system as a seperate player allows us to apply standard game-theoretic solution concepts to analyze affective responses.

Suggested Citation

  • Matthias Greiff, 2015. "Integrating Affective Responses into Game Theory: A Dual Selves Model," MAGKS Papers on Economics 201517, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
  • Handle: RePEc:mar:magkse:201517
    as

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    File URL: http://www.uni-marburg.de/fb02/makro/forschung/magkspapers/paper_2015/17-2015_greiff.pdf
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    References listed on IDEAS

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    More about this item

    JEL classification:

    • D03 - Microeconomics - - General - - - Behavioral Microeconomics: Underlying Principles
    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • D8 - Microeconomics - - Information, Knowledge, and Uncertainty
    • M5 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Personnel Economics

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