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Some problems with judging rationality

Piotr Swistak

2015

( 23 )

DOI: 10.7206/DEC.1733-0092.44

https:/doi.org/10.7206/DEC.1733-0092.44

Abstract

The gap between game-theoretic predictions and actual choices people make in, for instance, gaming experiments has been over-interpreted as evidence against rationality of players. I consider a version of the ultimatum game and examine its equilibria under different assumptions about players’ preferences. Using standard notions of rationality I show that the discrepancy between the “normative” and the “descriptive” cannot be established by a simple comparison of what is predicted by the equilibrium choices and the actual choices

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Collective and Individual Decisions (formerly Decyzje)

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