Skip to main content
Article thumbnail
Location of Repository

Incorporating fairness motives and quantal response equilibrium concepts: an application to 2x2 games

By Alessandro Tavoni


Substantial evidence has accumulated in recent empirical works on the limited ability of the Nash equilibrium to rationalize observed behavior in many classes of games played by experimental subjects. This realization has led to several attempts aimed at finding tractable equilibrium concepts which perform better empirically; one such example is the impulse balance equilibrium [Selten, Chmura, 2008], which introduces a psychological reference point to which players compare the available payoff allocations. This paper is concerned with advancing a new, empirically sound, concept that introduces a distributive reference point to established stationary equilibrium concepts such as impulse balance and quantal response

Topics: HB Economic Theory
Year: 2009
OAI identifier:
Provided by: LSE Research Online
Download PDF:
Sorry, we are unable to provide the full text but you may find it at the following location(s):
  • (external link)
  • (external link)
  • Suggested articles

    To submit an update or takedown request for this paper, please submit an Update/Correction/Removal Request.