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Notes on games and models PDF. Gibbard, Allan. Don't show me this again. This is one of over 2, courses on OCW. Explore materials for this course in the pages linked along the left.
No enrollment or registration. Freely browse and use OCW materials at your own pace. There's no signup, and no start or end dates. Knowledge is your reward. Use OCW to guide your own life-long learning, or to teach others. We don't offer credit or certification for using OCW. Made for sharing. Download files for later. Send to friends and colleagues. Weinstein and Domotor have done seminal work on learning, and Bicchieri has worked on models of belief revision in games. A challenge to the established theories of rationality comes from experimental economics.
Experimental results on Trust, Ultimatum and Social Dilemma games show that people do not behave as predicted by traditional game-theoretic models. This does not mean individuals are irrational, it just means that some auxiliary hypotheses such as material self-interest have a much narrower scope.
Economists have advanced several models of social preferences to explain the results, but we are still searching for utility functions general enough to subsume many different behaviors and specific enough to allow for meaningful predictions. Bicchieri most recent research focus has been judgment and decision making with special interest in decisions about fairness, trust, and cooperation, and how expectations affect behavior.
Her theory of social norms provides an alternative utility function that takes into account the fact that most individuals have a conditional preference for following a social norm, provided certain empirical and normative expectations are met. Her experiments test whether manipulating expectations changes behavior it does , the relative importance of normative vs.
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