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Psychologically rational choice: Selection between alternatives in a multiple-equilibrium game

Publication ,  Journal Article
Huettel, SA; Lockhead, G
Published in: Cognitive Systems Research
January 1, 2000

Choice is modeled by game theory through analyses of the structure of a game situation. However, at least some choices, such as those in games that have more than one rational solution, are difficult to address under standard game theory. We investigated choice in a simple multiple-equilibrium game, Wolf's Dilemma, and found that choice depends on both structural components of the game, such as the number of opponents, and non-structural components, such as judgments about opponents' likely choices. Significant effects of trial-to-trial sequence were identified. We conclude that game theoretic methods cannot deal with multiple and equilibrium games in the absence of a psychological understanding of choice, and that psychological measures are required to predict performance in such games. © 2000 Elsevier Science B.V. All rights reserved.

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Published In

Cognitive Systems Research

DOI

ISSN

1389-0417

Publication Date

January 1, 2000

Volume

1

Issue

3

Start / End Page

143 / 160

Related Subject Headings

  • Experimental Psychology
  • 5204 Cognitive and computational psychology
  • 5202 Biological psychology
  • 5003 Philosophy
  • 2203 Philosophy
  • 1702 Cognitive Sciences
  • 1701 Psychology
 

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Huettel, S. A., & Lockhead, G. (2000). Psychologically rational choice: Selection between alternatives in a multiple-equilibrium game. Cognitive Systems Research, 1(3), 143–160. https://doi.org/10.1016/S1389-0417(00)00006-1
Huettel, S. A., and G. Lockhead. “Psychologically rational choice: Selection between alternatives in a multiple-equilibrium game.” Cognitive Systems Research 1, no. 3 (January 1, 2000): 143–60. https://doi.org/10.1016/S1389-0417(00)00006-1.
Huettel SA, Lockhead G. Psychologically rational choice: Selection between alternatives in a multiple-equilibrium game. Cognitive Systems Research. 2000 Jan 1;1(3):143–60.
Huettel, S. A., and G. Lockhead. “Psychologically rational choice: Selection between alternatives in a multiple-equilibrium game.” Cognitive Systems Research, vol. 1, no. 3, Jan. 2000, pp. 143–60. Scopus, doi:10.1016/S1389-0417(00)00006-1.
Huettel SA, Lockhead G. Psychologically rational choice: Selection between alternatives in a multiple-equilibrium game. Cognitive Systems Research. 2000 Jan 1;1(3):143–160.
Journal cover image

Published In

Cognitive Systems Research

DOI

ISSN

1389-0417

Publication Date

January 1, 2000

Volume

1

Issue

3

Start / End Page

143 / 160

Related Subject Headings

  • Experimental Psychology
  • 5204 Cognitive and computational psychology
  • 5202 Biological psychology
  • 5003 Philosophy
  • 2203 Philosophy
  • 1702 Cognitive Sciences
  • 1701 Psychology