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(Un)Bounded Rationality in Decision Making and Game Theory – Back to Square One?

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dc.contributor.author Güth, Werner
dc.contributor.author Kliemt, Hartmut
dc.date.accessioned 2011-01-18T17:15:49Z
dc.date.available 2011-01-18T17:15:49Z
dc.date.issued 2010 en_US
dc.identifier.uri https://hdl.handle.net/10535/6822
dc.description.abstract "Game and decision theory start from rather strong premises. Preferences, represented by utilities, beliefs represented by probabilities, common knowledge and symmetric rationality as background assumptions are treated as 'given.' A richer language enabling us to capture the process leading to what is 'given' seems superior to the stenography of decision making in terms of utility cum probability. However, similar to traditional rational choice modeling, boundedly rational choice modeling, as outlined here, is far from being a 'global' theory with empirical content; rather it serves as a tool to formulate 'local' theories with empirical content." en_US
dc.language English en_US
dc.subject bounded rationality en_US
dc.subject game theory en_US
dc.subject decision making en_US
dc.title (Un)Bounded Rationality in Decision Making and Game Theory – Back to Square One? en_US
dc.type Journal Article en_US
dc.type.published published en_US
dc.type.methodology Theory en_US
dc.subject.sector Theory en_US
dc.identifier.citationjournal Games en_US
dc.identifier.citationvolume 1 en_US
dc.identifier.citationpages 53-65 en_US

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