Economic Harmony—A Rational Theory of Fairness and Cooperation in Strategic Interactions
Experimental studies show that the Nash equilibrium and its refinements are poor predictors of behavior in non-cooperative strategic games. Cooperation models, such as ERC and inequality aversion, yield superior predictions compared to the standard game theory predictions. However, those models are...
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| Format: | Article |
| Language: | English |
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MDPI AG
2022-04-01
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| Series: | Games |
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| Online Access: | https://www.mdpi.com/2073-4336/13/3/34 |