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Bayesian model of behaviour in economic games

Ray, D; King-Casas, B; Montague, PR; Dayan, P; (2009) Bayesian model of behaviour in economic games. In: Advances in Neural Information Processing Systems 21 - Proceedings of the 2008 Conference. (pp. 1345 - 1352).

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Abstract

Classical game theoretic approaches that make strong rationality assumptions have difficulty modeling human behaviour in economic games. We investigate the role of finite levels of iterated reasoning and non-selfish utility functions in a Partially Observable Markov Decision Process model that incorporates game theoretic notions of interactivity. Our generative model captures a broad class of characteristic behaviours in a multi-round Investor-Trustee game. We invert the generative process for a recognition model that is used to classify 200 subjects playing this game against randomly matched opponents.

Type:Proceedings paper
Title:Bayesian model of behaviour in economic games
UCL classification:UCL > School of Life and Medical Sciences > Faculty of Life Sciences > Gatsby Computational Neuroscience Unit

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