[Cite as http://purl.org/au-research/grants/arc/DP140103566]
Researchers Prof John Wooders;
Brief description John von Neumann’s minimax solution (1928) and its generalisation to mixed-strategy Nash (1950) equilibrium are the cornerstones of modern game theory, the mathematical framework for the study of decision making when the actions of different decision makers interact. This project studies human behaviour in situations where decision makers have an incentive to be unpredictable. The proposed research will shed light on the sources of the failure of the theory in the lab, and assesses the practical significance of the statistical tests used to evaluate laboratory data on mixed-strategy play.
Funding Amount 174000
Funding Scheme Discovery Projects