An outcome where no player can improve their payoff by unilaterally changing their strategy.

An outcome where all players are making optimal choices.

An outcome where the total payoff of all players is maximized.

An outcome where the game is in a state of perfect competition.

To test and validate economic theories in a controlled environment.

To analyze the behavior of individuals in economic decision-making scenarios.

To develop new economic models and theories based on empirical data.

To provide policy recommendations to governments and organizations.

Prisoner's Dilemma

Chicken Game

Battle of the Sexes

Matching Pennies

To observe and analyze individual decision-making in controlled settings.

To simulate real-world economic scenarios and study their outcomes.

To test the validity of economic theories and models under specific conditions.

To provide training and education in experimental economic methods.

Reasoning backward from the end of the game to determine optimal strategies.

Considering all possible outcomes and choosing the strategy with the highest expected payoff.

Analyzing the game tree and identifying dominant strategies for each player.

Applying game theory principles to real-world economic scenarios.

Direct questioning

Choice experiments

Auctions

Laboratory experiments

A game where the total payoff of all players is always zero.

A game where one player's gain is always another player's loss.

A game where the payoffs of all players are independent of each other.

A game where all players have the same strategies and payoffs.

Controlling for external factors that may influence the results.

Recruiting a large and diverse sample of participants.

Designing experiments that are both realistic and ethical.

Interpreting the results and generalizing them to real-world settings.

A strategy where a player randomly chooses between multiple pure strategies.

A strategy where a player always chooses the same pure strategy.

A strategy where a player chooses a pure strategy based on the other player's strategy.

A strategy where a player chooses a pure strategy based on their own preferences.

To compare the results of an experiment to a baseline scenario.

To ensure that the results of an experiment are not due to chance.

To test the validity of a new economic theory or model.

To provide a benchmark for evaluating the effectiveness of an economic policy.

Prisoner's Dilemma

Chicken Game

Battle of the Sexes

Matching Pennies

A refinement of the Nash Equilibrium concept that eliminates strategies that are not credible.

A method for finding the optimal strategy for a player in a game.

A way to determine the outcome of a game when players have incomplete information.

A technique for analyzing games with multiple stages or rounds.

To ensure that participants are evenly distributed across different treatment groups.

To minimize the effects of confounding factors on the results of an experiment.

To increase the sample size and statistical power of an experiment.

To reduce the likelihood of bias in the results of an experiment.

Laboratory experiments

Field experiments

Surveys

Econometric analysis

To test and validate economic theories and models.

To develop new economic theories and models.

To provide policy recommendations to governments and organizations.

To educate students about economic principles.