Some Problems With Judging Rationality

• Authors: Piotr Swistak
• Languages of publication: PL EN

Abstracts

PL

The gap between game-theoretic predictions and actual choices people make in, for instance, gaming experiments has been over-interpreted as evidence against rationality of players. I consider a version of the ultimatum game and examine its equilibria under different assumptions about players’ preferences. Using standard notions of rationality I show that the discrepancy between the “normative” and the “descriptive” cannot be established by a simple comparison of what is predicted by the equilibrium choices and the actual choices people make.

Keywords

EN

Game Theory; rationality; behavioral game theory; ultimatum game

• Publisher: Akademia Leona Koźmińskiego
• Journal: Decyzje
• Year: 2015
• Issue: 23
• Pages: 5-22

Dates

published

2015-06-15

Contributors

author

Piotr Swistak

• University of Maryland