Kliemt 2nd cut 1 Perfect or Bounded Rationality ? Some Facts , Speculations and Proposals

Abstract

The paper focuses on empirical studies of a class of very simple games of the reward allocation, dictator and ultimatum type. It is demonstrated that true explanations of social phenomena cannot conceivably be derived in terms of the perfect rationality concept underlying neo-classical economics. Analyzing the simple paradigm games it is explored in some… (More)

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