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Behavioral Game Theory: Experiments in Strategic Interaction
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Behavioral Game Theory: Experiments in Strategic Interaction

3.92  ·  Rating details ·  79 Ratings  ·  7 Reviews
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 ...more
Hardcover, 568 pages
Published March 17th 2003 by Princeton University Press (first published February 25th 2003)
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Alexia Gaudeul
Jul 03, 2017 rated it really liked it
Very good book, well written, well structured, perfect for teaching a Masters course.

Sometime going too much into intricacies of the author's own papers. Could go more into modeling of choices and some idea of econometric estimation techniques.

Goes well in combination with Moffatt's "Experimetrics" and with experiments on http://veconlab.econ.virginia.edu/.

The "learning" part starts at a too high level of abstraction, so I precede it with Holt's "Markets, Games and Strategic Behavior" on Baye
...more
Cyrus Samii
Mar 12, 2018 rated it really liked it
Exhaustive review of results in the experimental game theory literature. Many classics, but may also be a bit out of date at the moment. Also, I wonder whether some of the findings contained may need to be reconsidered given the recent "replication crisis" in social science.
Jasmine
Unsure about how these should be formed with regards to textbooks. Will update later.
Ilya
Dec 27, 2010 rated it liked it
Consider the following experiment involving two people, the Proposer and the Responder. The experimenter gives the Proposer some money, and asks him to decide, how much of it he should give to the Responder. If the Responder accepts the proposal, he gets what the Proposer decided to give him, and the Proposer is left with the rest. If the Responder rejects the proposal, the Proposer returns the money to the experimenter, and they both get nothing. Game theory tells us that the Responder should a ...more
Muhammad al-Khwarizmi
(This review is subject to expand.)

Pretty straightforward, fairly up to date experimental results on games with extensive consideration of what can go wrong in such experiments.

Experience weighted attraction seems to be an interesting learning model. Too bad, however, that the author's description is opaque and the mathematical typesetting is bad. (Actually it's described later with better formatting in the same chapter but the meaning of the experience weight is still unclear.)
Sandeep Bhasin
Aug 15, 2014 rated it really liked it
There are some books that open a new door of thinking for you. This book, in an absolutely simple language tell you how you think and how your brain uses it strategic thinking. It's just amazing how the author helps you understand a complicated process in simple language. 4 starts from me for this book.
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