Love is not enough.pdf (26.9 kB)
Love is not enough: Other-regarding preferences cannot explain payoff dominance in game theory
journal contributionposted on 2007-07-20, 09:38 authored by Andrew M. Colman
Even if game theory is broadened to encompass other-regarding preferences, it cannot adequately model all aspects of interactive decision making. Payoff dominance is an example of a phenomenon that can be adequately modeled only by departing radically from standard assumptions of decision theory and game theory – either the unit of agency or the nature of rationality.