• Corpus ID: 238408061

Gambits: Theory and Evidence

  title={Gambits: Theory and Evidence},
  author={Shivanand Maharaj and Nicholas G. Polson and Christian Turk},
Gambits are central to human decision making. Our goal is to provide a theory of Gambits. A Gambit is a combination of psychological and technical factors designed to disrupt predictable play. Chess provides an environment to study gambits and behavioral economics. Our theory is based on the Bellman optimality path for sequential decision making. This allows us to calculate the Q-values of a Gambit where material (usually a pawn) is sacrificed for dynamic play. On the empirical side, we study… 

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