Bargaining in a Video Experiment Determinants of Boundedly Rational
Bilateral bargaining situations are of great importance in reality. Traditional microeconomics, however, make cognitive and motivational assumptions of subjects` full rationality that are revealed as being unrealistic by a growing number of experimental i
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Heike Hennig-Schmidt
Bargaining in a Video Experiment Determinants of Boundedly Rational Behavior
Springer
Author Dr. Heike Hennig-Schmidt University of Bonn Wirtschaftstheorie II Adenauerallee 24-26 D-53113 Bonn
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Hennig-Schmidt, Heike:
Bargaining in a video experiment: determinants of boundedly rational behavior / Heike Hennig-Schmidt. - Berlin ; Heidelberg ; New York ; Barcelona ; Hong Kong ; London ; Milan ; Paris ; Santa Clara ; Tokyo : Springer, 1999 (Lecture notes in economics and mathematical systems ; 467) ISBN-13: 978-3-540-65415-5 001: 10.1 007/978-3-642-45775-3
e-ISBN-13: 978-3-642-45775-3
ISSN 0075-8442 ISBN-13: 978-3-540-65415-5 Springer-Verlag Berlin Heidelberg New York This work is subject to copyright. All rights are reserved, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, re-use of illustrations, recitation, broadcasting, reproduction on microfilms or in any other way, and storage in data banks. Duplication of this publication or parts thereof is permitted only under the provisions of the German Copyright Law of September 9, 1965, in its current version, and permission for use must always be obtained from Springer-Verlag. Violations are liable for prosecution under the German Copyright Law. © Springer-Verlag Berlin Heidelberg 1999 Softcover reprint of the hardcover 1st edition 1999 The use of general descriptive names, registered names, trademarks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. Typesetting: Camera ready by author Gedruckt mit Untersttitzung der Deutschen Forschungsgemeinschaft D5 SPIN: 10649678 42/3142-543210 - Printed on acid-free paper
To my family: Heiko, Heidi, Holger and my parents
Acknowledgements There are many persons who inspired and helped me during the long process of preparing this study. First of all I want to thank Reinhard Selten who suggested to me the project of videotaping groups of players and evaluating the discussions on their joint decisions. I readily accepted this advice not knowing how much hard work this decision would imply and how many interesting results I would be going to obtain. I am deeply indebted to my supervisor for trusting me to be able to achieve this task, for his support, advice and critique. Working in the field of boundedly rational behavior as opposed to or at least amplifying traditional neoclassical economics was also inspired by Werner Hildenbrand with whom I work together now for more than 15 years. His methodological critique on micro economic theory that hypotheses should be falsifiable, at least in principle, and should be based on observable entities which then could be evaluated by data analysis had a great influence on my
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