Abstract The logic of the detour (“stepping back in order to better leap forward”) constitutes the heart of economic rationality. However, it is shown that: 1) the capacity to make detours, far from being an essential property of human beings, is either denied them, or very difficult to mobilize, in fundamental areas of their activity … Continue reading The logic of the detour
Tag: beliefs
Learning in the Trust Game
Abstract We use experimental data from a repeated trust game to estimate structural learning models that let us differentiate between the learning processes of the two players. We find that the two players cannot be described by the same learning process. Long-run simulations then show that the interaction of the two estimated types of players … Continue reading Learning in the Trust Game