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To give an example, consider two options, A and B. If you choose option A, you will receive $100, and another (unknown) person will receive $10. If you choose option B, you will receive $85, and the other (unknown) person will also receive $85. This is a decomposed game. If a person chooses option B, we can infer that this person does not only ...
The expected utility hypothesis is a foundational assumption in mathematical economics concerning decision making under uncertainty. It postulates that rational agents maximize utility, meaning the subjective desirability of their actions. Rational choice theory, a cornerstone of microeconomics, builds this postulate to model aggregate social ...
The public goods game is a standard of experimental economics. In the basic game, subjects secretly choose how many of their private tokens to put into a public pot. The tokens in this pot are multiplied by a factor (greater than one and less than the number of players, N) and this "public good" payoff is evenly divided among players.
Negotiation is a strategic discussion that resolves an issue in a way that both parties find acceptable. Individuals should make separate, interactive decisions; and negotiation analysis considers how groups of reasonably bright individuals should and could make joint, collaborative decisions.
The Thomas–Kilmann Conflict Mode instrument consists of thirty pairs of statements. For each pair, the respondent must choose either the A or B item (for example, one item depicts collaborating while the other item describes avoiding). Each pair of statements was specifically designed, through a multi-stage research process, to be equal in ...
A game modeled after the iterated prisoner's dilemma is a central focus of the 2012 video game Zero Escape: Virtue's Last Reward and a minor part in its 2016 sequel Zero Escape: Zero Time Dilemma. In The Mysterious Benedict Society and the Prisoner's Dilemma by Trenton Lee Stewart , the main characters start by playing a version of the game and ...
Participative decision-making (PDM) is the extent to which employers allow or encourage employees to share or participate in organizational decision-making. [1] According to Cotton et al., the format of PDM could be formal or informal. [2] In addition, the degree of participation could range from zero to 100% in different participative ...
Two-level game theory is a political model, derived from game theory, that illustrates the domestic-international interactions between states. It was originally, introduced in 1988 by Robert D. Putnam , in his publication "Diplomacy and Domestic Politics: The Logic of Two-Level Games".