Anger Impairs Strategic Behavior: A Beauty-Contest Based Analysis

The frustration-aggression hypothesis posits that anger affects economic behaviour essentially by temporally changing individual social preferences and specifically attitudes towardspunishment. Here, we test a different channel in an experiment where we externally induceanger to a subgroup of participants (following a standard procedure that we verify by usinga novel method of textual analysis). We show that anger can impair the capacity to thinkstrategically in a beauty contest game, in a pre-registered experiment. Angry participantschoose numbers further away from the best response level and earn significantly lower profits. Using a finite mixture model, we show that anger increases the number of level-zeroplayers by 9 percentage points, a percentage increase of more than 30%. Furthermore, witha second pre-registered experiment, we show that this effect is not common to all negativeemotions. Sad participants do not play significantly further away from the best responselevel than the control group and sadness does not lead to more level-zero pla

La Teorí­a de Juegos en la Administración Estratégica Empresarial

Este artí­culo proporciona una revisión de literatura de la historia de la teorí­a de juegos y sus pronósticos, así­ como también modelos mentales y emociones estratégicas aplicadas en las instituciones económicas y la sociedad en general. El hilo común en este trabajo es referirse a las teorí­as en la administración estratégica empresarial basada en la teorí­a de juegos para de esta manera tener una comprensión profunda de la aplicabilidad de estas teorí­as en los mercados competitivos

Incertidumbre, Covid-19 y teoría de juegos

El presente trabajo trata de presentar las claves fundamentales de la utilidad de la teoría de juegos en la gestión de la incertidumbre aplicado a la situación actual que vive el mundo. Para la toma de decisiones es necesario entender la articulación con su contexto, donde la incertidumbre juega un papel preponderante al momento de decidir. Para gestionar la incertidumbre sobre el comportamiento contextual se debe obtener un diagnóstico preciso y situado sobre el mismo. La teoría de juegos permite establecer criterios de asignación óptima y decisión en un marco de incertidumbre, modelando posibles resultados en base a comportamientos de actores sociales del entorno y las decisiones internas.Fil: Perez, Santiago Agustin. Universidad Nacional de La Pampa; Argentina. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - Patagonia Confluencia; Argentin

INCERTIDUMBRE, COVID-19 Y TEORÍA DE JUEGOS

El presente trabajo intenta presentar las claves fundamentales de la utilidad de la teorí­a de juegos en la gestión incierta aplicada a la situación actual que se vive en el mundo. Para la toma de decisiones es necesario entender la articulación con su contexto, desde donde la incertidumbre juega un papel preponderante a la hora de decidir. Para manejar la incertidumbre sobre el comportamiento contextual, se debe obtener un diagnóstico preciso y situarlo en el miismo. La teorí­a de juegos permite establecer criterios de asignación y decisión óptimos en un marco de incertidumbre, modelando posibles resultados en función de los comportamientos de los actores sociales del entorno y las decisiones internas

Anger impairs strategic behavior: a beauty-contest based analysis

The frustration-aggression hypothesis posits that anger affects economic behaviour essentially by temporally changing individual social preferences and specifically attitudes towards punishment. Here, we test a different channel in an experiment where we externally induce anger to a subgroup of participants (following a standard procedure that we verify by using a novel method of textual analysis). We show that anger can impair the capacity to think strategically in a beauty-contest game, in a pre-registered experiment. Angry participants choose numbers further away from the best response level and earn significantly lower profits. Using a finite mixture model, we show that anger increases the number of level-zero players by 9 percentage points, a percentage increase of more than 30%. Furthermore, with a second pre-registered experiment, we show that this effect is not common to all negative emotions. Sad participants do not play significantly further away from the best response level than the control group and sadness does not lead to more level-zero play

Entrepreneurial Judgment and Commercialization

The fundamental research question posed in this thesis is: Can commercialization explain entrepreneurial choices in firm strategy, including beliefs and actions, in relation to increasing the likelihood of the entrepreneurdesired results? The thesis considers entrepreneurship as the exercise of judgment under uncertainty. This is investigated explicitly in the context of commercialization by firms. The thesis begins with an introductory chapter in which the theoretical implications of this view are presented

Mental equilibrium and strategic emotions

We model mental states as part of an equilibrium notion. In a mental equilibrium each player "selects" an emotional state that determines the player's preferences over the outcomes of the game. These preferences typically differ from the players' material preferences. The emotional states interact to play a Nash equilibrium and, in addition, each player's mental state must be a best response to the mental states of the others (in the sense of maximizing material payoffs). We discuss the concept behind the definition of mental equilibrium and examine it in the context of some of the most popular games discussed in the experimental economics literature. In particular, our approach allows us to identify the mental states (the psychology) that lead players to play various prominent experimental outcomes. We provide necessary and sufficient conditions for mental equilibria to be sustained by material preferences. Finally, we discuss the concept of collective emotions, which is based on the idea that players can coordinate their mental states. © Copyright 2016 INFORMS