Abstract

http://ssrn.com/abstract=2066779
 


 



The Theory of Minds Within the Theory of Games


Mathew D. McCubbins


Duke University

Mark B. Turner


Case Western Reserve University - Department of Cognitive Science

Nicholas Weller


University of Southern California - Department of Political Science; University of Southern California - School of International Relations

May 25, 2012

Proceedings of the 2012 International Conference on Artificial Intelligence, 2012

Abstract:     
Classical rationality as accepted by game theory assumes that a human chooser in a given moment has consistent preferences and beliefs and that actions result consistently from those preferences and beliefs, and moreover that these preferences, beliefs, and actions remain the same across equal choice moments. Since, as is widely found in prior experiments, subjects do not follow the predictions of classical rationality, behavioral game theorists have assumed consistent deviations from classical rationality by assigning to subjects certain dispositions — risk preference, cognitive abilities, social norms, etc. All of these theories are fundamentally cognitive theories, making claims about how individual human minds work when choosing. All of them are fundamentally wrong in assuming one kind of consistency or another. Or at least, all of the proposals for consistency in belief, preference, and action with which we are aware turn out to be wrong when tested experimentally

Number of Pages in PDF File: 7

Keywords: Behavioral game theory, experiments, cognition, Trust, Dictator, Donation, Prediction Markets

JEL Classification: C7, C72, C9, C91

Accepted Paper Series





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Date posted: May 25, 2012  

Suggested Citation

McCubbins, Mathew D. and Turner, Mark B. and Weller, Nicholas, The Theory of Minds Within the Theory of Games (May 25, 2012). Proceedings of the 2012 International Conference on Artificial Intelligence, 2012. Available at SSRN: http://ssrn.com/abstract=2066779

Contact Information

Mathew D. McCubbins
Duke University ( email )
Department of Political Science
208 Gross Hall, 140 Science Drive
Durham, NC 277080204
United States
(213) 973-7538 (Phone)
(213) 973-3623 (Fax)
HOME PAGE: http://mccubbins.us
Mark B. Turner
Case Western Reserve University - Department of Cognitive Science ( email )
10900 Euclid Avenue
Cleveland, OH 44106-7068
United States
HOME PAGE: http://markturner.org
Nicholas Weller (Contact Author)
University of Southern California - Department of Political Science ( email )
Von KleinSmid Center, 327
Los Angeles, CA 90089
United States
University of Southern California - School of International Relations
Los Angeles, CA 90089
United States
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