Theory and Practice Agree in Theory but not in Practice
June 17, 2009 10:58 AM Subscribe
In what cases is game theory a good model of actual human behavior?
posted by jasonhong to science & nature (9 answers total) 8 users marked this as a favorite
I'm curious as to the extent that game theory has been empirically validated as being a good model of human behavior, in terms of theories and domains. If you know of any specific theories or domains that have been validated, or any good survey papers or introductory material, I'd really appreciate it.
For example, (I'm making these next statements up) "game theory turns out to be surprisingly effective for modeling dating behavior among high school students" or "the predicted results of Prisoner's Dilemma based on game theory highly correlates with our user studies".
I'm familiar with the basics of game theory (minimax, nash equilibria) and basics of behavioral economics (the ultimatum game
, Kahneman and Tversky's Prospect Theory
The Paradox of Choice, some of George Loewenstein's work).