Behavioural Game Theory : Thinking , Learning and Teaching

  title={Behavioural Game Theory : Thinking , Learning and Teaching},
  author={Colin F. Call and Teck-Hlla Ho and Illill Kllan CilOllg},
  • Colin F. Call, Teck-Hlla Ho, Illill Kllan CilOllg
  • Published 2004
Game theory is a mathematical system for analysing and predicting how humans behave in strategic situations. Standard equilibrium analyses assume that all players: (I) form beliefs based on an analysis of what others might do (strategic thinking); (2) choose the best response given those beliefs (optimization); and (3) adjust best responses and beliefs until they are mutually consistent (equilibrium). It is widely accepted that not every player behaves rationally in complex situations, so… CONTINUE READING