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Cooperation between individuals requires the ability to infer each other's mental states to form shared expectations over mutual gains and make cooperative choices that realize these gains. From evidence that the ability for mental state attribution involves the use of prefrontal cortex, we hypothesize that this area is involved in integrating(More)
Reinforcement learning models now provide principled guides for a wide range of reward learning experiments in animals and humans. One key learning (error) signal in these models is experiential and reports ongoing temporal differences between expected and experienced reward. However, these same abstract learning models also accommodate the existence of(More)
Trust is a critical social process that helps us to cooperate with others and is present to some degree in all human interaction. However, the underlying brain mechanisms of conditional and unconditional trust in social reciprocal exchange are still obscure. Here, we used hyperfunctional magnetic resonance imaging, in which two strangers interacted online(More)
In this article we use laboratory experiments to ask a fundamental question: Do individuals behave as if their risk preferences are stable across institutions? In particular, we study the decisions of cash-motivated subjects in the repeated play of three different institutions: a value elicitation procedure for the sale of a risky asset, an English clock(More)
Given that human trust behavior is heritable and intranasal administration of oxytocin enhances trust, the oxytocin receptor (OXTR) gene is an excellent candidate to investigate genetic contributions to individual variations in trust behavior. Although a single-nucleotide polymorphism involving an adenine (A)/guanine (G) transition (rs53576) has been(More)
G theory had its beginnings in economics as a separate topic of analysis, practiced by a cadre of specialists. It has since become commonplace. Every economist is acquainted with the basic ideas, often without notice, and there is free movement between the use of game theory and other techniques. This incorporation as a standard economic tool has helped(More)
The concept of mixed strategy is a fundamental component of game theory, and its normative importance is undisputed. However, its empirical relevance has sometimes been viewed with skepticism. The main concern over the practical usefulness of mixed strategies relates to the “indifference” property of a mixedstrategy equilibrium. In order to be willing to(More)
It has been long recognized that different people may use different strategies, or decision rules, when playing games or dealing with other complex decision problems. We provide a new Bayesian procedure for drawing inferences about the nature and number of decision rules that are present in a population of agents. We apply our procedure to analyze the(More)
Kip Smith • John Dickhaut • Kevin McCabe • José V. Pardo Kansas State University, Department of Psychology, Manhattan, Kansas 66506 University of Minnesota, Carlson School of Management, Department of Accounting, Minneapolis, Minnesota 55455 George Mason University, Economics and Law, Krasnow Center, 4400 University Drive, MSN 5C7, Fairfax, Virginia 22030(More)
We examine decision making in two-person extensive form game trees using nine treatments that vary matching protocol, payoffs, and payoff information. Our objective is to establish replicable principles of cooperative versus noncooperative behavior that involve the use of signaling, reciprocity, and backward induction strategies, depending on the(More)