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Rationality in Economics: Constructivist and Ecological FormsThe principal findings of experimental economics are that impersonal exchange in markets converges in repeated interaction to the equilibrium states implied by economic theory, under information conditions far weaker than specified in the theory. In personal, social, and economic exchange, as studied in two-person games, cooperation exceeds the prediction of traditional game theory.
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Tags: theory, exchange, economic, two-person, games, Rationality, Ecological |