MICROECONOMICS-ACCESS CARD <CUSTOM>
MICROECONOMICS-ACCESS CARD <CUSTOM>
11th Edition
ISBN: 9781266285097
Author: Colander
Publisher: MCG CUSTOM
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Chapter 20, Problem 4QAP
To determine

Illustration of the importance of institutions by game theory.

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Which of the following problems makes it difficult to interpret human experiments using cooperation games based on economic game theory? If you compare humans from different cultures, you get different results which defeats the purpose. These games do not test human behavior under conditions that are ecologically realistic. Economic game theory assumes that humans are selfish, but actually we are cooperative. Humans choose to cooperate because they are related.
From your own understanding on the concept of “Game Theory”, what can you conclude about the relationship between rules of the game and the outcome that results?
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