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One response from those committed to the rational actor model was that it was interesting but irrelevant. The experiments involved small groups, often graduate students. It was entirely possible that as these types of situations became better understood, behavior would tend to become more rational as understood by the theory. Indeed, there was evidence that when these games were played with subjects who were either professors or students in economics and business, players acted in a far more selfish way, were more likely to free ride, were half as likely to contribute to a public good, kept ...more
Strategy: A History
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