Does Game Theory Work?: The Bargaining Challenge
Dublin Core
Title
Does Game Theory Work?: The Bargaining Challenge
Subject
Economic
Economic Behavior
Economic Behavior
Description
It is true that unmotivated subjects in unfamiliar situations don’t play as game theory predicts. So if game theory had to predict interactive human under all circumstances to be worthy of attention, it would in-
deed be a failure. But who would want to claim of any theory that it work in all environments? Just as Newton’s laws of motion don’t predict well at the bottom of the sea, so game theory can’t reasonably be expected to work in environments in which its tacit assumptions have no chance of being true. So what is the kind of environment in which we might reasonably expect game theory to predict well?
deed be a failure. But who would want to claim of any theory that it work in all environments? Just as Newton’s laws of motion don’t predict well at the bottom of the sea, so game theory can’t reasonably be expected to work in environments in which its tacit assumptions have no chance of being true. So what is the kind of environment in which we might reasonably expect game theory to predict well?
Creator
Ken Binmore
Publisher
Massachusetts Institute of Technology Press
Date
2007
Contributor
Novita
Format
PDF
Language
English
Type
Textbooks
Files
Collection
Citation
Ken Binmore, “Does Game Theory Work?: The Bargaining Challenge,” Portal Ebook UNTAG SURABAYA, accessed May 18, 2024, https://ebook.untag-sby.ac.id/items/show/1010.