Belief-Dependent Motivations and Psychological Game Theory
Journal of Economic Literature
no. 3, September 2022
The mathematical framework of psychological game theory is useful for describing many forms of motivation where preferences depend directly on one's own or others' beliefs. It allows for incorporating, for example, emotions, reciprocity, image concerns, and self-esteem in economic analysis. We explain how and why, discussing basic theory, experiments, applied work, and methodology.
Battigalli, Pierpaolo, and Martin Dufwenberg.
"Belief-Dependent Motivations and Psychological Game Theory."
Journal of Economic Literature,
Game Theory and Bargaining Theory: General
Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making