Abstract
In this chapter we analyze the behavior of individuals when facing strategic situations for the first time. First, we motivate our study through simple examples where, for different reasons, behavior may differ from the Nash equilibrium prediction. Subsequently, we describe different models that have been used to account for alternative types of behavior in novel situations. Finally, we explain the most common experimental techniques used to analyze the validity of such models in different strategic situations.
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© 2015 Nagore Iriberri and Pedro Rey-Biel
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Iriberri, N., Rey-Biel, P. (2015). Initial Responses in Strategic Situations. In: Branas-Garza, P., Cabrales, A. (eds) Experimental Economics. Palgrave Macmillan, London. https://doi.org/10.1057/9781137538192_5
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DOI: https://doi.org/10.1057/9781137538192_5
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-56044-8
Online ISBN: 978-1-137-53819-2
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)