Behavioral Game Theory
In this course we will examine game theories that are explicitly meant to describe behavior of humans and other species. Prominent models are those with level-k hierarchies, quantal response equilibrium (QRE) and cursed equilibrium. Most of the data is experimental evidence from a wide variety of games. We will also learn about field evidence, mostly about mixed strategies and application of level-k hierarchies to firms' decisions. Data include biological measures such as response times, eye-tracking, fMRI and evidence from psychiatric disorders. Students are expected to replicate an existing experiment (individual students) or work in small teams to create and run a new experiment.
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