The Concept Of Homo Economicus And Experimental Games

Author : Merve Gülacan
Publisher : GRIN Verlag
Page : 22 pages
File Size : 51,7 Mb
Release : 2016-04-22
Category : Philosophy
ISBN : 9783668202832

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The concept of "Homo Economicus" and Experimental Games by Merve Gülacan Pdf

Essay from the year 2015 in the subject Philosophy - Practical (Ethics, Aesthetics, Culture, Nature, Right, ...), grade: 2,3, University of Kassel, language: English, abstract: The findings of research in experimental behavioural economics over the past two decades have been impressively convincing. Until recently, economists assumed that individual behaviour is controlled by rationality. The consumer was perceived as a rational person who strives to maximize his utility. This is the concept of homo economicus, a prototype of an economic person and starting point for model formulation. However, this theory often overlooks the fact that homo economicus is not a person of flesh and blood, but a conceptual notion. Experimental evidence shows that the behaviour forecast by the standard model often does not correspond to reality. Factors like fairness, trust and moral values also play a role in the decision-making of the real economic actor. The knowledge gleaned from the observation of different negotiation plays provides the possibility for the derivation and representation of individual behaviour patterns. But the studies’ findings reveal that feelings of fairness, generosity and trust play a crucial role for the results. The object of this work is to find an answer to the question if homo economicus is still alive or not. Therefore I will consider different experiments of the dictator game from the literature. Experimental games offer good possibilities for the representation and derivation of individual behaviour patterns. Chapter 2 presents the concept of homo economicus and describes his properties. Chapter 3 deals with experimental games, with the major focus being on the dictator game. Individual studies will be presented. The last chapter concludes.

Author : C. M. Capra,Rachel T.A. Croson,Mary L. Rigdon,Tanya S. Rosenblat
Publisher : Edward Elgar Publishing
Page : 448 pages
File Size : 54,9 Mb
Release : 2020-10-30
Category : Business & Economics
ISBN : 9781785363337

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Handbook of Experimental Game Theory by C. M. Capra,Rachel T.A. Croson,Mary L. Rigdon,Tanya S. Rosenblat Pdf

The aim of this Handbook is twofold: to educate and to inspire. It is meant for researchers and graduate students who are interested in taking a data-based and behavioral approach to the study of game theory. Educators and students of economics will find the Handbook useful as a companion book to conventional upper-level game theory textbooks, enabling them to compare and contrast actual behavior with theoretical predictions. Researchers and non-specialists will find valuable examples of laboratory and field experiments that test game theoretic propositions and suggest new ways of modeling strategic behavior. Chapters are organized into several sections; each section concludes with an inspirational chapter, offering suggestions on new directions and cutting-edge topics of research in experimental game theory.

Author : Steven Durlauf,L. Blume
Publisher : Springer
Page : 267 pages
File Size : 47,6 Mb
Release : 2016-04-30
Category : Business & Economics
ISBN : 9780230280786

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Behavioural and Experimental Economics by Steven Durlauf,L. Blume Pdf

Specially selected from The New Palgrave Dictionary of Economics 2nd edition, each article within this compendium covers the fundamental themes within the discipline and is written by a leading practitioner in the field. A handy reference tool.

Author : John B. Davis
Publisher : Cambridge University Press
Page : 271 pages
File Size : 49,9 Mb
Release : 2010-09-30
Category : Business & Economics
ISBN : 9781139495462

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Individuals and Identity in Economics by John B. Davis Pdf

This book examines the different conceptions of the individual that have emerged in recent new approaches in economics, including behavioral economics, experimental economics, social preferences approaches, game theory, neuroeconomics, evolutionary and complexity economics, and the capability approach. These conceptions are classified according to whether they seek to revise the traditional atomist individual conception, put new emphasis on interaction and relations between individuals, account for individuals as evolving and self-organizing, and explain individuals in terms of capabilities. The method of analysis uses two identity criteria for distinguishing and re-identifying individuals to determine whether these different individual conceptions successfully identify individuals. Successful individual conceptions account for sub-personal and supra-personal bounds on single individual explanations. The former concerns the fragmentation of individuals into multiple selves; the latter concerns the dissolution of individuals into the social. The book develops an understanding of bounded individuality, seen as central to the defense of human rights.

Author : Daniel Houser,Kevin McCabe
Publisher : Elsevier Inc. Chapters
Page : 560 pages
File Size : 51,8 Mb
Release : 2013-08-13
Category : Medical
ISBN : 9780128073094

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Neuroeconomics by Daniel Houser,Kevin McCabe Pdf

Neuroeconomics is interested in understanding the interrelationship between computational mechanisms that exist in our evolved brains and computational mechanisms that exist in our constructed institutions. Game theory examines the way in which incentives affect decisions in strategic environments, and as such is an ideal tool for neuroeconomics studies because it links individual decision making to group level outcomes using clearly defined mechanisms. This chapter discusses the way game theory has been used to generate hypotheses in neuroeconomics, and reviews key concepts in the design and analysis of game theory and neuroeconomics experiments used to draw inferences regarding these hypotheses. The chapter concludes by indicating the way results from these experiments may point to a neuroeconomic theory of game playing.

Author : Avner Ben-Ner,Louis Putterman
Publisher : Cambridge University Press
Page : 564 pages
File Size : 54,8 Mb
Release : 1998
Category : Business & Economics
ISBN : 052177411X

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Economics, Values, and Organization by Avner Ben-Ner,Louis Putterman Pdf

A path-breaking analysis of the relationship between economic institutions and values.

Author : Anna Gunnthorsdottir,Douglas A. Norton
Publisher : Emerald Group Publishing
Page : 288 pages
File Size : 53,6 Mb
Release : 2018-12-14
Category : Business & Economics
ISBN : 9781787439894

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Experimental Economics and Culture by Anna Gunnthorsdottir,Douglas A. Norton Pdf

The contributions in this volume discuss new approaches to the measurement of culture and how to conceptualize and define values and beliefs and the groups that share them, and they contribute to the growing body of literature that documents how cultural differences in social and economic behavior.

Author : Christian Schmidt
Publisher : Routledge
Page : 202 pages
File Size : 46,8 Mb
Release : 2002-06-20
Category : Business & Economics
ISBN : 9781134511181

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Game Theory and Economic Analysis by Christian Schmidt Pdf

This book presents the huge variety of current contributions of game theory to economics. The impressive contributions fall broadly into two categories. Some lay out in a jargon free manner a particular branch of the theory, the evolution of one of its concepts, or a problem, that runs through its development. Others are original pieces of work that are significant to game theory as a whole. After taking the reader through a concise history of game theory, the contributions include such themes as: *the connections between Von Neumann's mathematical game theory and the domain assigned to him today *the strategic use of information by game players *the problem of the coordination of strategic choices between independent players *cooperative games and their place within the literature of games plus new developments in non-cooperative games *possible applications for game theory in industrial and financial economics differential qualitative games and entry dissuasion.

Author : J. J. Klant
Publisher : CUP Archive
Page : 224 pages
File Size : 52,5 Mb
Release : 1984-07-12
Category : Business & Economics
ISBN : 0521235022

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The Rules of the Game by J. J. Klant Pdf

Author : Joseph Henrich,Robert Boyd,Samuel Bowles,Colin Camerer,Ernst Fehr,Herbert Gintis
Publisher : OUP Oxford
Page : 472 pages
File Size : 40,6 Mb
Release : 2004-03-25
Category : Psychology
ISBN : 9780191532214

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Foundations of Human Sociality by Joseph Henrich,Robert Boyd,Samuel Bowles,Colin Camerer,Ernst Fehr,Herbert Gintis Pdf

What motives underlie the ways humans interact socially? Are these the same for all societies? Are these part of our nature, or influenced by our environments? Over the last decade, research in experimental economics has emphatically falsified the textbook representation of Homo economicus. Literally hundreds of experiments suggest that people care not only about their own material payoffs, but also about such things as fairness, equity and reciprocity. However, this research left fundamental questions unanswered: Are such social preferences stable components of human nature; or, are they modulated by economic, social and cultural environments? Until now, experimental research could not address this question because virtually all subjects had been university students, and while there are cultural differences among student populations throughout the world, these differences are small compared to the full range of human social and cultural environments. A vast amount of ethnographic and historical research suggests that people's motives are influenced by economic, social, and cultural environments, yet such methods can only yield circumstantial evidence about human motives. Combining ethnographic and experimental approaches to fill this gap, this book breaks new ground in reporting the results of a large cross-cultural study aimed at determining the sources of social (non-selfish) preferences that underlie the diversity of human sociality. The same experiments which provided evidence for social preferences among university students were performed in fifteen small-scale societies exhibiting a wide variety of social, economic and cultural conditions by experienced field researchers who had also done long-term ethnographic field work in these societies. The findings of these experiments demonstrated that no society in which experimental behaviour is consistent with the canonical model of self-interest. Indeed, results showed that the variation in behaviour is far greater than previously thought, and that the differences between societies in market integration and the importance of cooperation explain a substantial portion of this variation, which individual-level economic and demographic variables could not. Finally, the extent to which experimental play mirrors patterns of interaction found in everyday life is traced. The book starts with a succinct but substantive introduction to the use of game theory as an analytical tool and its use in the social sciences for the rigorous testing of hypotheses about fundamental aspects of social behaviour outside artificially constructed laboratories. The results of the fifteen case studies are summarized in a suggestive chapter about the scope of the project.

Author : Martin Shubik
Publisher : Edward Elgar Publishing
Page : 600 pages
File Size : 48,6 Mb
Release : 1999
Category : Business & Economics
ISBN : UOM:39015048591104

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Political Economy, Oligopoly and Experimental Games by Martin Shubik Pdf

These essays of Shubik's represent how his work connects ideas, precision and the methods of mathematics in the area of game theory and economic problems. They through light on price systems and money.

Author : Charles A. Holt
Publisher : Princeton University Press
Page : 695 pages
File Size : 41,8 Mb
Release : 2019-03-19
Category : Business & Economics
ISBN : 9780691179247

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Markets, Games, and Strategic Behavior by Charles A. Holt Pdf

First edition published: Boston: Pearson Addison Wesley, 2007.

Author : Reinhard Selten (Economist, Germany)
Publisher : Edward Elgar Publishing
Page : 924 pages
File Size : 55,6 Mb
Release : 1999-03-24
Category : Electronic
ISBN : 1781008299

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Game Theory and Economic Behaviour by Reinhard Selten (Economist, Germany) Pdf

'These two volumes constitute an impressive collection of selected path-breaking works of Professor Selten. . . . Edward Elgar Publications deserve merit for bringing out most frequently-cited and prominent articles of Professor Selten in a conveniently available package.' - K. Ravikumar, Journal of Scientific and Industrial Research In 1994, the Nobel Prize was awarded to Reinhard Selten, John Nash and John Harsanyi, for pioneering analysis in game theory. Selten was the first to refine the Nash equilibrium concept of non-cooperative games for analysing dynamic strategic interaction and to apply these concepts to analyses of oligopoly.

Author : Andrew M. Colman
Publisher : Elsevier
Page : 314 pages
File Size : 45,9 Mb
Release : 2016-06-06
Category : Business & Economics
ISBN : 9781483137148

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Game Theory and Experimental Games by Andrew M. Colman Pdf

Game Theory and Experimental Games: The Study of Strategic Interaction focuses on the development of game theory, taking into consideration empirical research, theoretical formulations, and research procedures involved. The book proceeds with a discussion on the theory of one-person games. The individual decision that a player makes in these kinds of games is noted as influential as to the outcome of these games. This discussion is followed by a presentation of pure coordination games and minimal situation. The ability of players to anticipate the choices of others to achieve a mutually beneficial outcome is emphasized. A favorable social situation is also influential in these kinds of games. The text moves forward by presenting studies on various kinds of competitive games. The research studies presented are coupled with empirical evidence and discussion designed to support the claims that are pointed out. The book also discusses several kinds of approaches in the study of games. Voting as a way to resolve multi-person games is also emphasized, including voting procedures, the preferences of voters, and voting strategies. The book is a valuable source of data for readers and scholars who are interested in the exploration of game theories.

Author : Patrick Jagoda
Publisher : University of Chicago Press
Page : 403 pages
File Size : 43,6 Mb
Release : 2020-12-07
Category : Social Science
ISBN : 9780226630038

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Experimental Games by Patrick Jagoda Pdf

In our unprecedentedly networked world, games have come to occupy an important space in many of our everyday lives. Digital games alone engage an estimated 2.5 billion people worldwide as of 2020, and other forms of gaming, such as board games, role playing, escape rooms, and puzzles, command an ever-expanding audience. At the same time, “gamification”—the application of game mechanics to traditionally nongame spheres, such as personal health and fitness, shopping, habit tracking, and more—has imposed unprecedented levels of competition, repetition, and quantification on daily life. Drawing from his own experience as a game designer, Patrick Jagoda argues that games need not be synonymous with gamification. He studies experimental games that intervene in the neoliberal project from the inside out, examining a broad variety of mainstream and independent games, including StarCraft, Candy Crush Saga, Stardew Valley, Dys4ia, Braid, and Undertale. Beyond a diagnosis of gamification, Jagoda imagines ways that games can be experimental—not only in the sense of problem solving, but also the more nuanced notion of problem making that embraces the complexities of our digital present. The result is a game-changing book on the sociopolitical potential of this form of mass entertainment.