Game theory, the formalized study of strategy, began in the 1940s by asking how
emotionless geniuses should play games, but ignored until recently how average people …

We examine learning in all experiments we could locate involving 100 periods or more of
games with a unique equilibrium in mixed strategies, and in a new experiment. We study …

We develop and test a theory of human behavior in 3× 3 symmetric games. The theory
hypothesizes a family of five boundedly rational archetypes distinguished by their model of …

A norm of 50–50 division appears to have considerable force in a wide range of economic
environments, both in the real world and in the laboratory. Even in settings where one party …

A small but increasing number of economists have begun to use laboratory experiments to
evaluate economic propositions under carefully controlled conditions. Experimental …

When we leave our closet, and engage in the common affairs of life,(reason's) conclusions
seem to vanish, like the phantoms of the night on the appearance of the morning; and'tis …

This article investigates the use of standard econometric models for quantal choice to study
equilibria of extensive form games. Players make choices based on a quantal-choice model …

Over the last few decades behavioral economics has revolutionized the discipline. It has
done so by putting the human back into economics, by recognizing that people sometimes …

A common claim about law is that it influences behavior “expressively.” At the most general
level, the claim is that law's behavioral influence is not entirely limited to the effect of legal …

This paper proposes a structural nonequilibrium model of initial responses to incomplete‐
information games based on “level‐k” thinking, which describes behavior in many …