Advances in understanding strategic behaviour: game theory, experiments,
and bounded rationality

Advances in understanding strategic behaviour: game theory, experiments,
and bounded rationality

Advances in understanding strategic behaviour:game theory, experiments,
and bounded rationality

In the decades that followed, the economics literature slowly started filling this gap. Evolutionary game theory, preference evolution, learning models, models of bounded rationality with and without optimization, and,
of course, more and more systematic experimental evidence – all these approaches flourished, competing with as well as complementing each other. Yet, compared to other fields, progress has not been particularly fast and the task before us is still immense. The task is, of course, to understand behaviour, and understanding is not easy. Life between hyperrationality on the one hand and simple facts on the other is not easy. There are no fixed axioms, and there is no fast-track methodology. There are many ways that can and
need to be tried. Unavoidably, most of these are arduous, and some turn out to be dead ends. Looking for new routes that fill the void needs an adventurous spirit, fearlessness, creativity and stubbornness

Steffen Huck

PALGRAVE MACMILLA

2004

Novita

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English

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