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

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

Files in this item

Files	Size	Format	View
game theory.pdf	187.6Kb	PDF	View/Open