SSE/EFI Working Paper Series in Economics and Finance
Jörgen W. Weibull
Testing Game Theory
Abstract: Experimentalists frequently claim that human subjects
playing games in the laboratory violate such solution concepts as Nash
equilibrium and subgame perfection. This claim is premature. What has been
rejected are certain joint hypotheses about preferences, knowledge, and
behavior. This note strives to clarify some issues in connection with
laboratory experiments, from the viewpoint of non-cooperative game theory,
and provides a sketch for a research program for experimental testing of
game-theoretic solution concepts.
Keywords: Game theory; experiments; (follow links to similar papers)
JEL-Codes: A10; C70; C72; C90; (follow links to similar papers)
15 pages, May 10, 2000, Revised April 16, 2002
- This paper is published as:
Weibull, Jörgen W., (2004), 'Testing Game Theory' in Huck, S. (ed.) Advances in Understanding Strategic Behaviour: Game Theory, Experiments and Bounded Rationality. Essay in Honour of Werner Güth, pages 85-104, Palgrave.
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