nips nips2008 nips2008-33 nips2008-33-reference knowledge-graph by maker-knowledge-mining

33 nips-2008-Bayesian Model of Behaviour in Economic Games


Source: pdf

Author: Debajyoti Ray, Brooks King-casas, P. R. Montague, Peter Dayan

Abstract: Classical game theoretic approaches that make strong rationality assumptions have difficulty modeling human behaviour in economic games. We investigate the role of finite levels of iterated reasoning and non-selfish utility functions in a Partially Observable Markov Decision Process model that incorporates game theoretic notions of interactivity. Our generative model captures a broad class of characteristic behaviours in a multi-round Investor-Trustee game. We invert the generative process for a recognition model that is used to classify 200 subjects playing this game against randomly matched opponents. 1


reference text

[1] K.A. McCabe, M.L. Rigdon and V.L. Smith. Positive Reciprocity and Intentions in Trust Games (2003). Journal of Economic Behaviour and Organization.

[2] E. Fehr and K.M. Schmidt. A Theory of Fairness, Competition and Cooperation (1999). The Quarterly Journal of Economics.

[3] E. Fehr and S. Gachter. Fairness and Retaliation: The Economics of Reciprocity (2000). Journal of Economic Perspectives.

[4] E. Fehr and U. Fischbacher. Social norms and human cooperation (2004). TRENDS in Cog. Sci. 8:4.

[5] P.J. Gmytrasiewicz and P. Doshi. A Framework for Sequential Planning in Multi-Agent Settings (2005). Journal of Artificial Intelligence Research.

[6] V. Conitzer and T. Sandholm (2002). Complexity Results about Nash Equilibria. Technical Report CMUCS-02-135, School of Computer Science, Carnegie-Mellon University.

[7] S. Thrun. Monte Carlo POMDPs (2000). Advances in Neural Information Processing Systems 12.

[8] JC Harsanyi (1967). Games with Incomplete Information Played by “Bayesian” Players, I-III. Management Science.

[9] J.F. Mertens and S. Zamir. Formulation of Bayesian analysis for games with incomplete information (1985). International Journal of Game Theory.

[10] Y. Nyarko. Convergence in Economic Models with Bayesian Hierarchies of Beliefs (1997). Journal of Economic Theory.

[11] C. Camerer. Behavioural Game Theory: Experiments in Strategic Interaction (2003). Princeton Univ.

[12] R. McKelvey and T. Palfrey. Quantal Response Equilibria for Extensive Form Games (1998). Experimental Economics 1:9-41.

[13] C. Camerer, T-H. Ho and J-K. Chong. A Cognitive Hierarchy Model of Games (2004). The Quarterly Journal of Economics.

[14] R.D. McKelvey, A.M. McLennan and T.L. Turocy (2007). Gambit: Software Tools for Game Theory.

[15] B. King-Casas, D. Tomlin, C. Anen, C.F. Camerer, S.R. Quartz and P.R. Montague (2005). Getting to know you: Reputation and Trust in a two-person economic exchange. Science 308:78-83.

[16] D. Tomlin, M.A. Kayali, B. King-Casas, C. Anen, C.F. Camerer, S.R. Quartz and P.R. Montague (2006). Agent-specific responses in cingulate cortex during economic exchanges. Science 312:1047-1050.

[17] L.P. Kaelbling, M.L. Littman and A.R. Cassandra. Planning and acting in partially observable stochastic domains (1998). Artificial Intelligence.

[18] K. McCabe, D. Houser, L. Ryan, V. Smith, T. Trouard. A functional imaging study of cooperation in two-person reciprocal exchange. Proc. Natl. Acad. Sci. USA 98:11832-35.

[19] K. Fliessbach, B. Weber, P. Trautner, T. Dohmen, U. Sunde, C.E. Elger and A. Falk. Social Comparison Affects Reward-Related Brain Activity in the Human Ventral Striatum (2007). Science 318:1302-1305.

[20] B. Lau and P. W. Glimcher (2008). Representations in the Primate Striatum during Matching Behaviour. Neuron 58. 8