|
Dictator Game
In social psychology and economics, the dictator game is a popular experimental instrument a derivative of the ultimatum game. It involves a single decision by the "dictator" player: given an amount of money, how much to keep and how much to send to another player. Although the "dictator" has the most power, the game has mixed results based on different behavioral attributes. The results – where most dictators choose to send money – evidence the role of fairness and norms in economic behavior, and undermine the assumption of narrow self-interest when given the opportunity to maximise one's own profits. Description The dictator game is a derivative of the ultimatum game, in which one player (the proposer) provides a one-time offer to the other (the responder). The responder can choose to either accept or reject the proposer's bid, but rejecting the bid would result in both players receiving a payoff of 0. In the dictator game, the first player, "the dictator", determines how to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Social Psychology
Social psychology is the methodical study of how thoughts, feelings, and behaviors are influenced by the actual, imagined, or implied presence of others. Although studying many of the same substantive topics as its counterpart in the field of sociology, psychological social psychology places more emphasis on the individual, rather than society; the influence of social structure and culture on individual outcomes, such as personality, behavior, and one's position in social hierarchies. Social psychologists typically explain human behavior as a result of the relationship between mental states and social situations, studying the social conditions under which thoughts, feelings, and behaviors occur, and how these variables influence social interactions. History 19th century In the 19th century, social psychology began to emerge from the larger field of psychology. At the time, many psychologists were concerned with developing concrete explanations for the different aspe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Altruism
Altruism is the concern for the well-being of others, independently of personal benefit or reciprocity. The word ''altruism'' was popularised (and possibly coined) by the French philosopher Auguste Comte in French, as , for an antonym of egoism. He derived it from the Italian , which in turn was derived from Latin , meaning "alterity, other people" or "somebody else". Altruism may be considered a synonym of selflessness, the opposite of self-centeredness. Altruism is an important moral value in many cultures and religions. It can Moral circle expansion, expand beyond care for humans to include other Sentience, sentient beings and future generations. Altruism, as observed in populations of organisms, is when an individual performs an action at a cost to itself (in terms of e.g. pleasure and quality of life, time, probability of survival or reproduction) that benefits, directly or indirectly, another individual, without the expectation of reciprocity or compensation for that ac ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Social Psychology
Social psychology is the methodical study of how thoughts, feelings, and behaviors are influenced by the actual, imagined, or implied presence of others. Although studying many of the same substantive topics as its counterpart in the field of sociology, psychological social psychology places more emphasis on the individual, rather than society; the influence of social structure and culture on individual outcomes, such as personality, behavior, and one's position in social hierarchies. Social psychologists typically explain human behavior as a result of the relationship between mental states and social situations, studying the social conditions under which thoughts, feelings, and behaviors occur, and how these variables influence social interactions. History 19th century In the 19th century, social psychology began to emerge from the larger field of psychology. At the time, many psychologists were concerned with developing concrete explanations for the different aspe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Non-cooperative Games
In game theory, a non-cooperative game is a game in which there are no external rules or binding agreements that enforce the cooperation of the players. A non-cooperative game is typically used to model a competitive environment. This is stated in various accounts most prominent being John Nash's 1951 paper in the journal ''Annals of Mathematics''. Counterintuitively, non-cooperative game models can be used to model cooperation as well, and vice versa, cooperative game theory can be used to model competition. Some examples of this would be the use of non-cooperative game models in determining the stability and sustainability of cartels and coalitions. The difference between cooperative and non-cooperative game theory According to Nash, the difference between cooperative game theory and non-cooperative game theory is that “(cooperative game) theory is based on an analysis of the interrelationships of the various coalitions which can be formed by the players of the game. Our (no ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Social Preferences
Social preferences describe the human tendency to not only care about one's own material payoff, but also the reference group's payoff or/and the intention that leads to the payoff. Social preferences are studied extensively in behavioral and experimental economics and social psychology. Types of social preferences include altruism, fairness, reciprocity, and inequity aversion. The field of economics originally assumed that humans were rational economic actors, and as it became apparent that this was not the case, the field began to change. The research of social preferences in economics started with lab experiments in 1980, where experimental economists found subjects' behavior deviated systematically from self-interest behavior in economic games such as ultimatum game and dictator game. These experimental findings then inspired various new economic models to characterize agent's altruism, fairness and reciprocity concern between 1990 and 2010. More recently, there are growing a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Goods Game
The public goods game is a standard of experimental economics. In the basic game, subjects Information asymmetry, secretly choose how many of their Private good, private tokens to put into a public pot. The payoff of each player is her "private consumption" (her endowment minus her contribution) plus her benefit from the "public good" (the sum of contributions multiplied by a factor). The game is used to study degree of altruism and cooperation between individuals. Introduction Public goods games are fundamental in experimental economics. The nature of the experiment is incentives and the problem of free riding. Public goods games investigate the incentives of individuals who free-ride off individuals who are contributing to the common pool. A public goods game investigates behavioural economics and the actions of the players in the game. In this process, it seeks to use behavioural economics to understand the decisions of its players. It extends further to free-riding, which ha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Prisoner's Dilemma
The prisoner's dilemma is a game theory thought experiment involving two rational agents, each of whom can either cooperate for mutual benefit or betray their partner ("defect") for individual gain. The dilemma arises from the fact that while defecting is rational for each agent, cooperation yields a higher payoff for each. The puzzle was designed by Merrill Flood and Melvin Dresher in 1950 during their work at the RAND Corporation. They invited economist Armen Alchian and mathematician John Williams to play a hundred rounds of the game, observing that Alchian and Williams often chose to cooperate. When asked about the results, John_Forbes_Nash_Jr., John Nash remarked that rational behavior in the Prisoner's dilemma#The_iterated_prisoner's_dilemma, iterated version of the game can differ from that in a single-round version. This insight anticipated a Folk_theorem_(game_theory), key result in game theory: cooperation can emerge in repeated interactions, even in situations where it i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ultimatum Game
The ultimatum game is a popular experimental economics game in which two players interact to decide how to divide a sum of money, first described by Nobel laureate John Harsanyi in 1961. The first player, the proposer, proposes a division of the sum with the second player, the responder. The responder can either accept the proposed division or reject it. If the responder accepts, the money is split according to the proposal; if the responder rejects, neither player receives anything. Both players know in advance the rules of the game. The game is typically designed as a one-shot interaction to isolate immediate reactions to fairness, thereby minimizing the influence of potential future interactions. However, even within this one-shot context, participants' decision-making processes may implicitly involve considering the potential consequences of repeated interactions, due to the fact that humans have evolved within societies that interact repeatedly. This design is crucial for o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Neuroeconomics
Neuroeconomics is an Interdisciplinarity, interdisciplinary field that seeks to explain human decision-making, the ability to process multiple alternatives and to follow through on a plan of action. It studies how economic behavior can shape our understanding of the brain, and how neuroscientific discoveries can guide models of economics.Center for Neuroeconomics Study at Duke University http://dibs.duke.edu/research/d-cides/research/neuroeconomics It combines research from neuroscience, Experimental economics, experimental and behavioral economics, and Cognitive psychology, cognitive and Social psychology, social psychology. As research into decision-making behavior becomes increasingly computational, it has also incorporated new approaches from theoretical biology, computer science, and mathematics. Neuroeconomics studies decision-making by using a combination of tools from these fields so as to avoid the shortcomings that arise from a single-perspective approach. In mainstream ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Impunity Game
The impunity game is a simple game in experimental economics, similar to the Dictator Game. The first player "the proposer" chooses between two possible divisions of some endowment (such as a cash prize): #The first choice will be a very unequal division, giving most of the endowment to themself, and sharing little with the second player (the partner or the "responder"). #The second choice is a more even division, giving a "fair" proportion of the initial pie to the responder, and keeping the rest for themself. The second and final move of the game is in the hands of the responder: he can accept or reject the amount offered. Unlike the ultimatum game The ultimatum game is a popular experimental economics game in which two players interact to decide how to divide a sum of money, first described by Nobel laureate John Harsanyi in 1961. The first player, the proposer, proposes a division of the ..., this has no effect on the proposer, who always keeps the share she originally a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
California
California () is a U.S. state, state in the Western United States that lies on the West Coast of the United States, Pacific Coast. It borders Oregon to the north, Nevada and Arizona to the east, and shares Mexico–United States border, an international border with the Mexico, Mexican state of Baja California to the south. With almost 40million residents across an area of , it is the List of states and territories of the United States by population, largest state by population and List of U.S. states and territories by area, third-largest by area. Prior to European colonization of the Americas, European colonization, California was one of the most culturally and linguistically diverse areas in pre-Columbian North America. European exploration in the 16th and 17th centuries led to the colonization by the Spanish Empire. The area became a part of Mexico in 1821, following Mexican War of Independence, its successful war for independence, but Mexican Cession, was ceded to the U ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
James Andreoni
James Andreoni (born 1959 in Beloit, Wisconsin) is a professor in the Economics Department of the University of California, San Diego where he directs the EconLab. His research focuses on behavioral economics, experimental economics, and public economics. Andreoni is well known for his research on altruism, and in particular for coining the term warm-glow giving to describe personal gains from altruistic acts. Andreoni's research uses a mixture of economic theory, experiments, and standard analysis of survey data to explore a variety of topics including: moral decision making, time preferences, charitable giving and altruistic decisions. His research has been described as expanding “our understanding of donors and charities and our broader understanding of public goods and expenditures.” Career Andreoni received his bachelor's degree from the University of Minnesota in 1981, and his PhD from the University of Michigan The University of Michigan (U-M, U of M, or Michigan) ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
