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Trust Game
The dictator game is a popular experimental instrument in social psychology and economics, a derivative of the ultimatum game. The term "game" is a misnomer because it captures a decision by a single player: to send money to another or not. Thus, the dictator has the most power and holds the preferred position in this “game.” Although the “dictator” has the most power and presents a take it or leave it offer, the game has mixed results based on different behavioral attributes. The results – where most "dictators" choose to send money – evidence the role of fairness and norms in economic behavior, and undermine the assumption of narrow self-interest when given the opportunity to maximise one's own profits. Description The dictator game is a derivative of the ultimatum game, in which one player (the proposer) provides a one-time offer to the other (the responder). The responder can choose to either accept or reject the proposer's bid, but rejecting the bid would result in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Social Psychology
Social psychology is the scientific study of how thoughts, feelings, and behaviors are influenced by the real or imagined presence of other people or by social norms. Social psychologists typically explain human behavior as a result of the relationship between mental states and social situations, studying the social conditions under which thoughts, feelings, and behaviors occur, and how these variables influence social interactions. History Although issues in social psychology have been discussed in philosophy for much of human history, the scientific discipline of social psychology formally began in the late 19th to early 20th century. 19th century In the 19th century, social psychology began to emerge from the larger field of psychology. At the time, many psychologists were concerned with developing concrete explanations for the different aspects of human nature. They attempted to discover concrete cause-and-effect relationships that explained social interactions. In ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Altruism
Altruism is the principle and moral practice of concern for the welfare and/or happiness of other human beings or animals, resulting in a quality of life both material and spiritual. It is a traditional virtue in many cultures and a core aspect of various religious and secular worldviews. However, the object(s) of concern vary among cultures and religions. In an extreme case, altruism may become a synonym of selflessness, which is the opposite of selfishness. The word "altruism" was popularized (and possibly coined) by the French philosopher Auguste Comte in French, as ''altruisme'', for an antonym of egoism. He derived it from the Italian ''altrui'', which in turn was derived from Latin ''alteri'', meaning " other people" or "somebody else". Altruism in biological observations in field populations of the day organisms is an individual performing an action which is at a cost to themselves (e.g., pleasure and quality of life, time, probability of survival or reproduction), ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Social Psychology
Social psychology is the scientific study of how thoughts, feelings, and behaviors are influenced by the real or imagined presence of other people or by social norms. Social psychologists typically explain human behavior as a result of the relationship between mental states and social situations, studying the social conditions under which thoughts, feelings, and behaviors occur, and how these variables influence social interactions. History Although issues in social psychology have been discussed in philosophy for much of human history, the scientific discipline of social psychology formally began in the late 19th to early 20th century. 19th century In the 19th century, social psychology began to emerge from the larger field of psychology. At the time, many psychologists were concerned with developing concrete explanations for the different aspects of human nature. They attempted to discover concrete cause-and-effect relationships that explained social interactions. In ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Social Preferences
Social preferences describe the human tendency to not only care about one's own material payoff, but also the reference group's payoff or/and the intention that leads to the payoff. Social preferences are studied extensively in behavioral and experimental economics and social psychology. Types of social preferences include altruism, fairness, reciprocity, and inequity aversion. The field of economics originally assumed that humans were rational economic actors, and as it became apparent that this was not the case, the field began to change. The research of social preferences in economics started with lab experiments in 1980, where experimental economists found subjects' behavior deviated systematically from self-interest behavior in economic games such as ultimatum game and dictator game. These experimental findings then inspired various new economic models to characterize agent's altruism, fairness and reciprocity concern between 1990 and 2010. More recently, there are growing amou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Goods Game
The public goods game is a standard of experimental economics. In the basic game, subjects secretly choose how many of their private tokens to put into a public pot. The tokens in this pot are multiplied by a factor (greater than one and less than the number of players, N) and this " public good" payoff is evenly divided among players. Each subject also keeps the tokens they do not contribute. Introduction Public goods games are fundamental in experimental economics. The nature of the experiment is incentives and the problem of free riding. Public goods games investigate the incentives of individuals who free-ride off individuals who are contributing to the common pool. A public goods game investigates behavioural economics and the actions of the players in the game. In this process, it seeks to use behavioural economics to understand the decisions of its players. It extends further to free-riding, which has far-reaching applications to environmental, managerial and social econ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Prisoner's Dilemma
The Prisoner's Dilemma is an example of a game analyzed in game theory. It is also a thought experiment that challenges two completely rational agents to a dilemma: cooperate with their partner for mutual reward, or betray their partner ("defect") for individual reward. This dilemma was originally framed by Merrill Flood and Melvin Dresher while working at RAND in 1950. Albert W. Tucker appropriated the game and formalized it by structuring the rewards in terms of prison sentences and named it "prisoner's dilemma". William Poundstone in his 1993 book ''Prisoner's Dilemma'' writes the following version:Two members of a criminal gang are arrested and imprisoned. Each prisoner is in solitary confinement with no means of speaking to or exchanging messages with the other. The police admit they don't have enough evidence to convict the pair on the principal charge. They plan to sentence both to two years in prison on a lesser charge. Simultaneously, the police offer each prisoner a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ultimatum Game
The ultimatum game is a game that has become a popular instrument of economic experiments. An early description is by Nobel laureate John Harsanyi in 1961. One player, the proposer, is endowed with a sum of money. The proposer is tasked with splitting it with another player, the responder. Once the proposer communicates his decision, the responder may accept it or reject it. If the responder accepts, the money is split per the proposal; if the responder rejects, both players receive nothing. Both players know in advance the consequences of the responder accepting or rejecting the offer. Equilibrium analysis For ease of exposition, the simple example illustrated above can be considered, where the proposer has two options: a fair split, or an unfair split. The argument given in this section can be extended to the more general case where the proposer can choose from many different splits. There are two strategies available to the proposer: propose a fair split, or propose an un ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Neuroeconomics
Neuroeconomics is an interdisciplinary field that seeks to explain human decision-making, the ability to process multiple alternatives and to follow through on a plan of action. It studies how economic behavior can shape our understanding of the brain, and how neuroscientific discoveries can guide models of economics.Center for Neuroeconomics Study at Duke University http://dibs.duke.edu/research/d-cides/research/neuroeconomics It combines research from neuroscience, experimental An experiment is a procedure carried out to support or refute a hypothesis, or determine the efficacy or likelihood of something previously untried. Experiments provide insight into cause-and-effect by demonstrating what outcome occurs when ... and behavioral economics, and Cognitive psychology, cognitive and Social psychology, social psychology. As research into decision-making behavior becomes increasingly computational, it has also incorporated new approaches from theoretical biology, comput ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Impunity Game
The impunity game is a simple game in experimental economics, similar to the Dictator Game. The first player "the proposer" chooses between two possible divisions of some endowment (such as a cash prize): #The first choice will be a very unequal division, giving most of the endowment to herself, and sharing little with the second player (the partner or the "responder"). #The second choice is a more even division, giving a "fair" proportion of the initial pie to the responder, and keeping the rest for herself. The second and final move of the game is in the hands of the responder: he can accept or reject the amount offered. Unlike the ultimatum game The ultimatum game is a game that has become a popular instrument of economic experiments. An early description is by Nobel laureate John Harsanyi in 1961. One player, the proposer, is endowed with a sum of money. The proposer is tasked with spl ..., this has no effect on the proposer, who always keeps the share she originally awar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Heritability
Heritability is a statistic used in the fields of breeding and genetics that estimates the degree of ''variation'' in a phenotypic trait in a population that is due to genetic variation between individuals in that population. The concept of heritability can be expressed in the form of the following question: "What is the proportion of the variation in a given trait within a population that is ''not'' explained by the environment or random chance?" Other causes of measured variation in a trait are characterized as environmental factors, including observational error. In human studies of heritability these are often apportioned into factors from "shared environment" and "non-shared environment" based on whether they tend to result in persons brought up in the same household being more or less similar to persons who were not. Heritability is estimated by comparing individual phenotypic variation among related individuals in a population, by examining the association between ind ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Subgame Perfect Nash Equilibrium
In game theory, a subgame perfect equilibrium (or subgame perfect Nash equilibrium) is a refinement of a Nash equilibrium used in dynamic games. A strategy profile is a subgame perfect equilibrium if it represents a Nash equilibrium of every subgame of the original game. Informally, this means that at any point in the game, the players' behavior from that point onward should represent a Nash equilibrium of the continuation game (i.e. of the subgame), no matter what happened before. Every finite extensive game with perfect recall has a subgame perfect equilibrium. Perfect recall is a term introduced by Harold W. Kuhn in 1953 and ''"equivalent to the assertion that each player is allowed by the rules of the game to remember everything he knew at previous moves and all of his choices at those moves"''. A common method for determining subgame perfect equilibria in the case of a finite game is backward induction. Here one first considers the last actions of the game and determines w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
