Hostname: page-component-7c8c6479df-r7xzm Total loading time: 0 Render date: 2024-03-29T04:43:02.484Z Has data issue: false hasContentIssue false

From old issues to new directions in experimental psychology and economics

Published online by Cambridge University Press:  06 November 2001

Vernon L. Smith
Affiliation:
Economic Science Laboratory, University of Arizona, Tucson, AZ 85721 smith@econlab.arizona.edu

Abstract

The rhetoric of hypothesis testing implies that game theory is not testable if a negative result is blamed on any auxiliary hypothesis such as “rewards are inadequate.” This is because either the theory is not falsifiable (since a larger payoff can be imagined, one can always conclude that payoffs were inadequate) or it has no predictive content (the appropriate payoff cannot be prespecified).

Type
Brief Report
Copyright
© 2001 Cambridge University Press

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)