Stochastic game theory: for playing games, not just for doing theory.
Recent theoretical advances have dramatically increased the relevance of game theory for predicting human behavior in interactive situations. By relaxing the classical assumptions of perfect rationality and perfect foresight, we obtain much improved explanations of initial decisions, dynamic patterns of learning and adjustment, and equilibrium steady-state distributions.
Goeree
J K
JK
Department of Economics, Rouss Hall, University of Virginia, Charlottesville, VA 22903, USA. jg2n@virginia.edu
Holt
C A
CA
D001519:Behavior; D005716:Game Theory; D006801:Humans; D007858:Learning; D015233:Models, Statistical; D008962:Models, Theoretical; D011057:Politics; D013269:Stochastic Processes