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The Economic Research Institute, Stockholm School of Economics SSE/EFI Working Paper Series in Economics and Finance

No 382:
Testing Game Theory

Jörgen W. Weibull ()

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

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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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