Titel: Behavioral Game Theory and Contemporary
Autor: Herbert Gintis
Abstract: It is widely believed that experimental results of behavioral game theory undermine standard economic and game theory. This paper suggests that experimental results present serious theoretical modeling challenges, but do not undermine two pillars of contemporary economic theory: the rational actor model, which holds that individual choice can be modeled as maximization of an objective function subject to informational and material constraints, and the incentive compatibility requirement, which holds that macroeconomic quantities must be derived from the interaction and aggregation of individual choices. However, we must abandon the notion that rationality implies self-regarding behavior and the assumption that contracts are costlessly enforced by third parties.
Titel: Norms as Equilibria
Autor: Bernd Lahno
This paper presents a survey on contemporary RC accounts of norms. The characteristic common feature of these accounts is that norms are understood as equilibrium selection devices. The most sophisticated positions driven by this idea are Herbert Gintis' theory of norms as choreographers and Cristina Bicchieri's theory of norms as solutions to mixed motive games. In order to give a comprehensive account of social norms, though, RC theory needs to be substantially extended. In particular, it seems to be impossible in principle to fully understand the concept of normativity and the motivating power of norms within a traditional, pure RC framework.
Ernst Fehr on Human Altruism. An Interdisciplinary Debate
2005 (27) Heft 1
In the foregoing decade, two related developments in the behavioural sciences have drawn the attention of social scientists, particularly economists. The first is the use of laboratory experiments in the investigation of human behaviour. Although the use of such experiments has a longer history, only in the last decade has ’experimental economics’ become a sub-discipline of economics with which economists of just about all colours are familiar; indeed, experimental results regularly feed int...