Colin F. Camerer's Books

Behavioral Game Theory

Experiments in Strategic Interaction

By: Colin F. Camerer

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Behavioral Game Theory

Experiments in Strategic Interaction

By: Colin F. Camerer

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 with emotions and limited foresight actually play games. This book marks the first substantial and authoritative effort to close this gap. Colin Camerer, one of the field's leading figures, uses psychological principles and hundreds of experiments to develop mathematical theories of reciprocity, limited strategizing, and learning, which help predict what real people and companies do in strategic situations. Unifying a wealth of information from ongoing studies in strategic behavior, he takes the experimental science of behavioral economics a major step forward. He does so in lucid, friendly prose. Behavioral game theory has three ingredients that come clearly into focus in this book: mathematical theories of how moral obligation and vengeance affect the way people bargain and trust each other; a theory of how limits in the brain constrain the number of steps of "I think he thinks . . ." reasoning people naturally do; and a theory of how people learn from experience to make better strategic decisions. Strategic interactions that can be explained by behavioral game theory include bargaining, games of bluffing as in sports and poker, strikes, how conventions help coordinate a joint activity, price competition and patent races, and building up reputations for trustworthiness or ruthlessness in business or life. While there are many books on standard game theory that address the way ideally rational actors operate, Behavioral Game Theory stands alone in blending experimental evidence and psychology in a mathematical theory of normal strategic behavior. It is must reading for anyone who seeks a more complete understanding of strategic thinking, from professional economists to scholars and students of economics, management studies, psychology, political science, anthropology, and biology.

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569

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Princeton University Press

Published Date

ISBN 10

1400840880

ISBN 13

9781400840885

Neuroeconomics

Chapter 25. The Neural Basis of Strategic Choice

By: Colin F. Camerer,Todd A. Hare

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Neuroeconomics

Chapter 25. The Neural Basis of Strategic Choice

By: Colin F. Camerer,Todd A. Hare

In this chapter, we present a set of concepts and tools for defining and examining strategic choice that are drawn from behavioral economics and discuss how they can be applied to and tested with neuroscience techniques. The standard language for studying strategic choice in economics is game theory. Game theory provides concrete mathematical formulas for linking strategic actions to rewarding payoffs. After outlining the four components necessary to make predictions about strategic social behavior, we present recent evidence that the computations predicted by game theory in specific strategic choice contexts are reflected in the brain. In addition, we discuss links between strategic decision making and the psychological concept of theory of mind. We conclude by suggesting that developing mathematical models of social and strategic actions may aid in the understanding of how the brain implements typical choice behavior as well as categorizing dysfunctions that lead to aberrant behavior in psychiatric disorders.

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Elsevier Inc. Chapters

Published Date

ISBN 10

0128073322

ISBN 13

9780128073322

Behavioral Game Theory

Experiments in Strategic Interaction

By: Colin F. Camerer

Write a review Read reviews Take a Quiz Solve Book Puzzle

Behavioral Game Theory

Experiments in Strategic Interaction

By: Colin F. Camerer

Average ratings

N/A

Write a review

Solve jigsaw puzzle

Age

Page Count

569

Publisher

Princeton University Press

Published Date

ISBN 10

1400840880

ISBN 13

9781400840885

Book's by Colin F. Camerer

Behavioral Game Theory

Behavioral Game Theory

Neuroeconomics

Neuroeconomics

Behavioral Game Theory

Behavioral Game Theory

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