Game Theory and Human Behavior
https://pdfs.semanticscholar.org/d2b3/69a4e2ee9fc434f1be72139581eef40c2ea4.pdf
This article uses the concept of game theory to connect with human behavior. An interesting preface is this quote, “Moreover, because behavioral game-theoretic predictions can be systematically tested, the results can be replicated by different laboratories(Plott 1979; Smith 1982; Sally 1995). This turns social science into truescience.” It highlights a few salient factors that serve as strong reciprocators for aspects in the research which include altruism and inequality aversion. Through a variety of models and experiments, the author uses principles from game theory to explain inclinations and human actions. It’s very interesting how specific virtues and qualities can be reflected in actions translated through game theory. In the example of the Trust Game, it describes certain assumptions a person can make to either be “trustworthy” or “trusting”. At the end of the day, this study provides ways to bridge the gap between experimental work and real-life situations.
In class, we were introduced to game theory specifically using the prisoner’s dilemma and the nash equilibrium. Although rudimentary, it provided an interesting and powerful framework that pushed me to research it further. Game theory can be applied from actual games of chance to huge government and business decisions with a ton of assets. This versatility in it’s applications prompts a greater motivation to further understand game theory. I believe that it can be applied to any field of study and even within this small paper, there are a myriad of interdisciplinary ways to account for human behavior with game theory putting it all together. I look forward to thinking about how game theory is further applied in class and providing a new perspective to academic research.